A bad ending...

We saw some buying attempts throughout the day but each time it was shot down. At the end of the day bears just took over and there were no bulls in sight. On the DOW we closed right at support. Talk about cutting it close. That is "too" close for comfort.

I guess the statement from President Bush and his economic advisers this morning did nothing to boost the market. In my view their appearance probably hurt it. Just the fact that they made the dramatic effort this morning to say how great everything is was enough for the big money folks to take away that things may be worse. Big money is smart, they can't be fooled.

A full analysis of the charts tonight.