4 OCT 2011, Tuesday (AM)

• Finally broke out of the sideways range we've been trapped in for weeks...to the downside.  Well below all MA's.
• Here's an interesting fact...3 OCT 2011 - SP500 closes at 1099.23 and on 3 OCT 2008 it closed at 1099.23 just before the waterfall down of that year.  Coincidence???  Don't believe it?  Chart below...For what it's worth.  
• Now we're in the summer 2011 sideways zone of 1020-1120.  Waiting to see what kind of support it offers.  Reminding myself that in down markets oversold can become even more oversold and nothing goes in a straight line forever.