A very ugly day for equities and many folks pining for the days of George W. Bush - as under Obama the SPX has now moved from 805 to 1092- while under dubya from 1350 to 805- interesting- and how quickly we forget.
Anyhow, the SPX down 25 and down 60 points from the recent high of 1150-
The VIX shot up 24% to close at 27.6 and now trades about 43% above the SMA 10- YOWZA - don't see that very often.
RSI 2 level at about 5 on the SPX - so buy signals galore - just like yesterday -
I did put on some SSO earlier and still holding - looking to buy more next week- for now its ugly but I suspect this too will change - just like everyone was hoping for a pullback at much higher levels and now that its here folks are scared silly.