OBJECTIVE NUMBERS

Markets are set to open lower on the heels of some less than positive comments from the influential financial analyst Mike Mayo.

ES -10

NQ -18

YM -80

In addition- markets are way over bought and due for a correction or a some backing and filling.

How over bought?- RSI (2) levels over 90 on the major indexes and the SPX trading over 6% above the SMA 50.

In addition moving averages of the a/d lines also show severe over bought levels and a looming correction.