Very Early Indications

I usually wouldn't post early indications this early as a.m. trade (game playing) is still in effect, but the initial signals thus far look like the market is trying to get a toehold. There are no specific positive divergences which is what we'd need to see for the bounce scenario to still be on track, but we also haven't seen any downside 3C confirmation of the gap down yet either, thus there's some effort to gain a toehold rather than large scale panic. I would warn that if that toe hold starts to slip or if it looks like someone in the hedge fund herd decides, "He who sells first, sells best" and the hedge fund herd starts to take an "every man for himself" p.o.v., then we'd be thrown in to an AAPL 2012 situation pretty quickly on a near term basis.

I'll have a market update just as soon as I see something more definitive.