O.K., I'm convinced . . .

I was a bit unhappy to see the DOW climb 75 points while I sat on the sidelines, but as it rolled over in the afternoon, my angst turned to relief. This thing is ugly and now that we've taken out the August lows with out the sellers giving up like they did in August (red arrow) my guess is this thing is headed to the March lows.

It could turn around tomorrow, but there's not much in the way of news to do it.