The market is not looking healthy and fear is persuasive. This is a trading environment now and it is unclear where the market will head. But ask yourself is this SELLOFF warranted. It has been for 2-3 years due to illogical lending practices that a common man took, but knew it made no sense. Though I don't think it is the Fed's God given right to start a recession because we live in a democracry where things should play out on their own: they should be compelled to lower rates.
Remember this selloff will have signs of ending when gold and oil start to move up. Those are great indicators for the liquidity in the market.
Early morning will have a sell off, but HOW WILL THE CLOSE look? DJIA 13,499 or DJIA 12000? I'm leaning towards a downday, but not straight down. Personally, I think a big down 260 pnt will be healthy since it will be an exhaustion sell to start over again on Monday.
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