Closing Comment

The indices had a bad day to end a volatile week. They started with a gap down and went lower all morning. They did try a mid -morning bounce but when the NDX failed to confirm they rolled over and went lower for most of the session. They tried a snapback in the last half hour after the NDX successfully tested 1900 twice and the S&P 1395, but a late 5 minute pullback took them off their highs. Any movement below Wednesday’s lows could pose some big problems. Ideally we can base for a bit. I am taking a look at the financials and may be a buyer soon. The group acted ok on Friday. When I do step in I will do it via the ProShares ultra long etf. The symbol is UYG.