Looking at stocks we see that the Dow and SP have corrected about 5 percent and NASDAQ about 10. Major supports are at 9063 for Dow cash, 1204 for SP futures and 1921 for ND futures. With the market massively oversold after today's action the probabilities strongly favor these supports holding. If they do there will likely need to be some consolidation but a rally ahead of the holiday next Monday is likely. There is serious deterioration in some sections such as banking. It is notable that quality high tech stocks have been holding reasonably well and many stocks that previously looked like short sales seem to be holding.

All our stocks are holding reasonably well. One that has been weak Glaxo was actually up today. Strength on a day of great weakness often suggests worthwhile strength will come when the general market stabilizes.

Stockscom