Today’s market really did not have anything meaningful within it to focus on today. But what can be said about today’s rally is that it came on lower volume which is not what you like to see after a distribution day.

I am not panic selling ANYTHING! But there is no doubt today’s action is negative and does hint that the uptrend very well could be over already. However, like always I wait to make my decision after all the data from the close is in. That will not be for another few hours.

I am not going to write a long commentary tonight as I really don’t see anything too important out there that I need to spend too much time focusing on. The biggest event was the late day selloff in the stock market.

This means that if these bases all complete their right side, we are going to have a powerful market rally with or without volume. I am stunned by how many nice charts there are now AFTER JUST ONE bullish week where leading stocks outperformed the rest.

One stock market prognosticator's look at a rebound in the financials. Will debt and credit markets open up again? Will investment banking advisory fees come back?

"The answer seems to be that the great times are gone forever, but survival is nearing certainty and good times are not as far off as they seemed..."

There was nothing great or horrible about today. The only thing I can say is that the retards who told me to buy stocks at the open sure were wrong. I do not daytrade and anyone that was trading like this today has a lot of work to do to become a great trader/investor.

I have some great new longs tonight. And some of my current longs made some impressive gains today along with a couple of my favorites setting up new buy points.