Even though we did bounce back this afternoon, breadth was very weak. Today was a ground hogs day mirror image with yesterday. With a strong sell off piercing the low yesterday in the morning bought back up by end of the day. This is also the second three straight down day in two weeks and the 2nd day in a row that the VIX plunged around 10% a few hours before the close. On some measures we are getting oversold and buyers are already discussing their plans on the web. It is hard to imagine us falling further with month end and new month money on the side line, but I can’t help wonder if we are going to get a 4th down day.
