Going on 3 days with no power, cable and Internet. Three f-n days!! The level of incompetence is frustrating. Maybe because I managed and investigated manufacturing discrepancies with respect to hundreds of millions of dollars worth of a bio pharmaceutical that would go into infants, and excelled at it and trained a team that excelled at it, I understand how to properly investigate an issue, discover a root cause and implement a corrective action. I am left with utter amazement that PSE&G and Time Warner can not fix a specific designated grid within a three day time frame. (Needless to say, I'm writing this on my iPhone, again.)
The catalyst to today's negativity was mechanical. IMO, the Yen announcement gave the false impression of a "risk-off" trade. Then the negativity fed on itself.
This pull back is gonna allow for entries. (When PSE&G and Time Warner get their shit together, I'll be able to detail specific names.)
With respect to the market, there are a bunch of support levels here. If we are in fact continuing the March 2009 rally, the 320 and/or 360 SMAs will act as strong supports, and will not be broken.