First, there probably won’t be a watchlist tomorrow morning. I have to take care of some things and probably won’t be back before the open. Hopefully I’ll be able to do a recap tomorrow night. My desktop PC hasn’t been right since it got zapped in September (it now shuts down at random) so I’m building a new one tomorrow. It should be a simple process but if there’s no recap tomorrow you’ll know that the simple turned into a big mess…

Well that bounce scenario I talked about this morning vanished real quick. I guess we had to give back those ill-gotten Friday light volume gains. I was surprised at how low volume was today given the price action. It seems as though buyers are just stepping aside and waiting for the August lows to be retested. And I can certainly understand that logic. No need to be a hero right here. Let the market shake some more people out and give it a try at what should be support.

The Naz got pushed back under its trendline and 200-day moving average today. That nice round number, 2500, isn’t very far away. It almost *has* to test it at this point.

Likewise, the S&P *has* to test the August intraday low…

And — par for the course — the small caps have already broken their August low.