Then, just before lunch, everyone heard that the memo was supposed to read, "...today we're going to have a stupid bullshit rally." What it left us with was a massive sell-off and gap-fills across the boards. Seriously though, that was a pretty spectacular sell-off. From what I was watching the Russell2000 (IWM) and the S & P led the way down this morning, while the Dow put up quite a struggle to stay afloat.
Whatever chart you look at (of the indices) the line is drawn in the sand. We finally saw a volume surge today with very bearish undertones. We could either fall off the edge tomorrow, or get some choppy indecision. Get ready for some volatility to start off Q4.
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