We were lucky to dump the XIV break even at the open. This looks like a train wreck. Two well known tech analyst put a sell on yesterday and told their clients to get out of the markets. One would think this is a Good time to buy. It might be; however, there doesn't appear to be any catalyst that would want to make people buy. The Fed is out of moves and Washington seems to be fighting over everything.
Technically: There is some support here and it may hold. If it does not hold, I really don't see anything until around the S&P 1050-1100 level. This 1200 level should be a battle ground. Let's watch if the Bulls can hold their here. We will stay on the sidelines for now.....
