THE SANDY LINE

Markets closed the well off their worst levels and it seemed like the bulls defended their turf/sand for now.

SPX -15, NAZ -33 and DJIA -130.

Strongest sectors - metals, fins, ags, real estate and retail while materials, energy, trannies and homies lagged.

NYSE- 1400 net losers;

NAZ- 1200 net losers;

NDX- 12 GREEN;

SPX- 75 GREEN;

VIX - higher by 8% at 31.35 and at the SMA 10;

It appears that the bulls actually won the day despite the shellacking in equity prices- the EMA 20 on the ES Futures was safely defended at the end of the day and SPX 880 level also came close to being taken out - but no said the bulls. Also not that the futures climbed right to the ema 200 on the 5 minute chart like a magnet.

My trading - pretty good buying the SDS off the ema 20 and scoring well- the 2.00 pm area in particular.





RSI (2) levels off the lows and now trading near 25 on the ES/NQ futs.



Jeff Saut seeing some toppy action;

VIX - buyers beware;

And pretty ugly shoots for Kudlow;