After another day like today we should keep to the facts and keep it simple.
The U.S. stock indexes closed sharply lower again today and hit fresh contract lows amid ongoing financial market uncertainty. News that General Motors ratings were lowered by the ratings agencies further spooked the market. GM is on the verge of collapse and its stock price is lower than it was in 1929. Bears still have the solid near-term technical advantage in the stock indexes, amid no technical clues that market bottoms are in place. Look for any rallies in the stock indexes to be selling opportunities in the near term.
Once again, that's all I got. Let's get a good night sleep, don't take the street home and live to trade another day.
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