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[tommyt]

the dow is fast approaching its first bear market target, 12,800ish...the put unwind is underway and we should be there during expo week...then we may be in a position to have a relief rally. You would like to see divergences near the end of moves, but I cant find many/any...new lows contracted today was one of the few I found, the NYSE summation broke to the downside and not good. Medium oversold on the usual suspects ( MACD,RSI, TRIN) but nothing extreme yet. Still a whole lotta good daytrading out there!

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&st=2007-01-01&i=t52232582444&r=3602.png