Was that move shocking enough for you? It was for me and I half way expected it. Sell the news worked again as Treasury Secretary Geithner got beat like a tied up goat on Capital Hill. I almost felt sorry for the guy. He was SO obviously out of his league.

Did you know he does his own taxes using Turbo Tax? One of our top bankers using Turbo Tax....to do his own taxes? Are you kidding me? He doesn't use a CPA firm?? Am I the only one who thinks that's beyond belief? (I'm not belittling turbo tax for all you normal tax filers out there, I'm really not). I ALWAYS want a CPA firm between myself and the IRS. Always!

The breakdown today was severe. All the stops got taken out under 860 then 850 then 840, but the last line in the sand held....820. That's the number to watch going forward. If the market breaks through that level, then the running triangle may assert itself like a bad mother-in-law! (which mine is not by the way!) 

I'm not completely convinced the triangle has activated. This could be the last shocking move down to 820 before a launch up begins. It's possible so don't laugh. We should know this week which way it's going to go. If the market breaks back above 840 tomorrow beware.