You can stick a fork in the U.S. economy. It’s done. Hope for an abbreviated European slowdown has also evaporated. So now the world turns its desperate eyes towards the developing world. And it ain’t looking good there either.

This market might be the ultimate buy-low bonanza… for long-term investors. Underneath all that churning and spinning, prices on sturdy blue chips are deep bargains and dividend yields are high. Put a few in a 20-year plan and you should do extremely well.

During pre-market, you just have a feeling that there will be a forceful gap that will break through everything. Or, if you don't that gut feeling, you can simply look at a 3 or 5-day chart and look at how the open cut through several support levels. Combine that with the fact that the market didn't even attempt to fill the gap, nor did it have any energy to do so within the first 30-mins.

Still in wacky, neutral, 'whipsawing like crazy' consolidation! Volume remains extremely weak and has declined since the start of the triangle. It is still tough to say which way we will breakout, but right now, it still remains 50/50. Here are the 1-day, 3-day, and 5-day charts for the DJIA and NASDAQ.