This market hasn’t given up the ghost.

This market hasn’t given up the ghost.

 

After the big sell off yesterday, the market bounced around the flat line today, failing to capitalize on the obama’s mortgage plan and Fed meeting minutes. This action portends a bigger sell off just ahead of us.

 

With the DOW Nov closing low penetrated, this senior index broke all the conceivable technical support level, leaving only the Nov 21 intraday low intact.

 

The ghost I am talking about is the big-cap tech. They are still acting up, absent of any meaningful (high vol) downside. We are not close to the bottom yet. Hold on tight, it will be a heck of ride.