The market is sending a clear and convincing message that the preferred direction is down. It was up 300 points in the first 30 minutes and then lost it all with two hours to go in the session and was hard down going into the close. I run through 30 charts multiple times each day, looking for any signals that are flagged and what I am seeing is sick, sick, sick price action almost across the board. It's important to have a short-side presence in this kind of market.
The recommendations from last Friday's special alert still hold, while we wait for the mechanical system to trigger its own brand of market timing signals: