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THE CLOSE

ByGary Kaltbaum

When the DOW is down 140+, the S&P 20+ and the NASDAQ 50+ and come back like it did, it is good news. When the 50 day gets bounced off of on the RUSSEL and the DOW, it is good news. If that important support gets taken out, you will know it.

Major indices remain range-bound with the NASDAQ/NDX leading. Until the 50 day gets taken out, nothing to sweat about.That’s of course unless you own the big retail…which we have been telling you to avoid. The group simply worsened today.