$INDU update

The market generally moved sideways all day, but in the end sellers took control and the DOW lost 96 points to close at 9744.  This is the lowest close for the index in 2010.  We will see what tomorrow brings.  The DOW is getting extremely oversold and a bounce is imminent.  But will it come after a bit more carnage remains to be seen.  I will continue to watch from the sidelines even though I am extremely tempted to go short on the market.  But the oversold indicators are keeping me from taking such a position.  I will continue to stay on the sidelines and keep an eye on the leading stocks to see if a buying opportunity presents itself.