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.


Anonymous Anonymous said...

We are back to the level we were at on Nov 9 when the S&P started to go sideways. I think we are done going down. Earnings next week will be just fine and the S&P will drift slighty up.

Just think of all the brush in Crawford that feels safer now that it doesn't have to be sacrificed for a Bush photo-op.

Go Gators!

5:03 PM  
Blogger DAVID said...

Go Gators is hardly Anonymous

1:54 PM  

The eye is on spx.

10:19 PM  

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