Note the following:
-- Prices are below all the SMAs
-- All the SMAs are headed lower
-- The shorter SMAs are below the longer SMAs
Also note that since the market dropped like a stone on the failed bail-out day, the market has been treading at the low end of the week's trading range. The big issue here is the bail-out in the Senate. If we see that go through I would expect a rally. I would also expect the opposite to be true.
