For the fifth straight day, after 5 down weeks, the bulls let us down again at the close.  The market was in positive territory most of the day but closed poorly after Fed Chairman Ben Bernanke didn’t offer anything new on his speech. “An oversold market can become even more oversold” comes to mind.  As expected the bulls lacked confidence on the first attempt, but the good news is we are still on a string of down trending days and a lasting 3 digit Dow rally may be again on the horizon.  A scary whoosh down with a spiky VIX along with a test of the 200 day moving average on the SPY could be the ideal scenario.