Monday, August 17, 2009

Today's Markets

The big news in all the charts show a gap down.

The SPYs are right at technical support.

The QQQQs have a ways to go and

The IWMs are at support as well.

While I am sure there are people in a panic about this, I'm not. The market needs a sell-off right now; we've come a long way and it's time to drive out some weak positions.