Tape was "ugly" today.....

Market internals were "horrible" @ close.....

Today's selling was across the board...no sector was spared.....

VIX shot UP 11.36% to close @ 31.17.....

OIL,GOLD & CAD all took it on the chin.....

Today's close had the feeling of "complete washout" as S&P 500 closed @ absolute low of the day......

NOW..for the good news.....

Volume was "average"

S&P 500 closed @ 893.04

S&P 500 50 DMA is 898.63

S&P 500 200 DMA is 900.76

SO...we closed only 7.72 points away from 200 DMA.....

WAIT...there IS more good news.....Golden cross in S&P 500 is only 2.14 points away.....

So..you think that market IS capable of doing mini technical repair????

I would like to think so.....being an optimistic Taurus....

AH futures are as follows :

Dow UP 10.99

S&P 500 UP .86

Nasdaq UP 2.54

NOT bad after a day like today.....when every pundit & their brother-in-law is predicting S&P 500 in 870 area????

SO..cheer UP....

Sky is NOT falling !!!!

I kept all my position as is.....

BLOG does NOT give buy or sell.

Saleem