CLOSING SUPPORT

Markets closed lower and near their worst levels as the fins and real estate sold off in the last 60 minutes of trading.

Strongest sectors- metals, bonds, utils drugs and ags while gaming, real estate, homies and shipping lagged.

NYSE- 1720 net losers;

NAZ- 1375 net losers;

NDX/OEX- 13 GREEN STOCKS;

VIX- flat on a day the SPX lost 20 and the DJIA lost 185;

TRIN- 1.45 with down volume about 5x the up on light overall volume of 1.2B;

Support areas held at SPX 815 so not a completely terrible day for the bulls- and the TALF results do out later today - and I think folks expecting ugly numbers there-

Maria all excited about AA numbers and the beat- of course futures not exactly ripping higher on the news- so not likely a market mover tomorrow.

RSI (2) levels at near 20 on the SPX and with lots of support below (805) and the SMA 50 at/near 790 - a dip tomorrow can probably be bought - low risk entry with stops under the 50.

And after watching CNBC the last few days - who doesn't miss the guy in the picture.