A Rough close

Sellers outnumber short covering and buyers together. I was expecting to see at least a small rally right at the close as shorts covered before heading into tomorrow. But the intensity of outright sellers was far greater and kept the markets pushing lower and lower.

An ugly close and now we are in new territory (to the downside that is). The S&P closed at a new low since the time this mess started. A target for the S&P 500 of around 1390 is now likely. Financials just drag us along with no end in sight yet.

Charts tonight..