Not Convinced Yet

Here are the levels I'm looking at today: 1303 and 1292.66. The first one is a shot across the bow for the bulls. The second one will likely sink them. (Can you tell I've been playing Battleship with my little nephew?)

I mentioned that Thursday's price action felt sloppy to me. Well, Friday's was even worse. I want to see a definitive, unequivocal down day before I commit. To have just the S&P and the Dow down on Friday, unconfirmed by the Nasdaq and the Russell, is not my idea of a big market turn. It's going to take a little blood.