Day Summary

We got a fllowthru day to downside on q's and iwm but s&p and dow manaed to stay positive. We are getting oversold now and we are also reaching a crucial support , I think we may see some more selling to the supports and then may try to stage a rally from those supports. Watch for 1351 on S&P to act as support and if that holds we may rally to 1373 in very short term. Dow is already at support and thats probably one of the reason dow didnt sell off today and tried to rally we may have a bounce in Dow till 12430 area. There could be some early morning washout selling before a rally attempt. This is really a day traders market so be very nimble and always have sound risk management.