Stock indexes ‘hot’ but not what investors want

Stock indexes have been hot lately but not in the way that investors would like to envision them as markets slice through previous lows with ease.

E-mini S&P 500 Index futures have lost more than 200 points in the first two months of 2009 alone, falling below 700 for the first time since 1996.
Fundamental news from AIG to European banks to auto sales is not providing any positive news to support the stock market.
Chances of meaningful rallies have gotten even dimmer despite Obama bailout efforts and talk about great values in the market as hope evaporates.
VantagePoint indicators spotted the start of the latest leg downward Feb. 10 after a long, black bearish candle followed a doji candle illustrating traders’ uncertainty about price direction (red circle).
The predicted medium-term moving average (blue line) crossed below the actual moving average (black line) and the predicted neural index dropped to 0.00 to confirm a bearish outlook, giving traders an opportunity to go short in the 820-830 area.