Day Summary

Afte Q's on friday, today IWM also broke the Jan22 lows and there doesn not seem to be any sign of capitulation or panic yet. I think the point of least resistance is down and unless I see a big reversal bar on big volume we may not find a short term bottom till then. Now even monthly charts of indexes have started looking ugly and we may very well and 1219 may be next support on S&P500 if Jan 22 support breaks down. Commodities, Gold and Oil Nat gas etfs are the only thing working right now. Nat gas jumped another 2.2% today and its reaching my first target of 50.