DaBoyz are doing their thieving best Sunday night to find a level where they might exhaust sellers, the better to suck up stock at prices they won’t soon regret. This game has gotten old, however, and may no longer even work, as we have seen in recent weeks. It is dangerous as well, since the only short squeeze they’ve been able to engineer worthy of the name required yet one more dithering, meaningless pronouncement from the Fed.  When will the Open Market Committee meet next?  It can’t come too soon, since the investment world is desperately in need of word that no significant changes in monetary policy are coming.

From a technical standpoint, the futures slightly exceeded our 1896.75 correction target on Friday.  The fact that pivot-smashing piece of the selloff came during the 15-minute run-off after-hours was our first hint that stocks would not open with a song in their obsidian heart this evening.  They’ve trade well below the invisible support since, suggesting that still more weakness is forthcoming. The low so far this evening has been 1880.50, but bulls and bear alike should use the 1874.75 target shown to trade the opportunity thereof. ______ UPDATE (3:59 p.m.): Interesting that DaBoyz were able to keep this hoax afloat for five hours today before mother nature took her course, sending shares plummeting once again.  It’s smelling more like a Bear Market each day.