Bearishness winning

Today we saw a lot of selling pressure in the morning session again. As in the last two days, the bulls were able to come in the afternoon and push the SPX to close above the lows of the day, but still the market ended down.

The market forecast was is showing that tomorrow could be another down day. As volatility erupted to the upside today again, the SKEW actually fell again. All this is just really a choppy market in the range between 2120 and 2180 on the SPX. This could last awhile actually, even though it seems like the market has been range bound for so long already.

The RUT and the NDX fell more than the SPX, and they look like they could show more weakness before they rebound.