About this time last week we were talking about the strength of the buyers. Where are they now? We broke below the 5 day moving average today in the Dow and the S&P 500. We are now sitting on the 10 day moving average. If the market holds that support, it might continue the rally. The problem is that I don't see the buyers coming in as strong as they did last week. I don't think the 10 day moving average will hold as support. This doesn't mean that I am saying you need to buy puts. I think the smart move would be to get out of the market and go to cash until we get some clearer signals as to where we are headed next. The next support to watch is the 982 area on the S&P 500.
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