We are at a critical juncture in the market. Market 
needs to hold morning lows today into the close. Let's 
post the lows and revisit after the bell:

DOW: 10,625
SPX:  1,324 
OEX:    675
TRAN: 3,373
UTIL: 326.5
VIX:  23.71 (INVERTED)
COMP: 2,557.5
NDX:  2,189
MSH:  1,091
PSE:  570.5
SOX:  460.8
BKX:  862.8

IF WE HEAD INTO THE BELL WITH 10 MINUTES TO GO PRIOR TO 
CLOSE, AND EVIDENCE SUGGESTS WE WILL CLOSE BELOW THESE 
MORNING LOWS, IT IS HIGHLY SUGGESTED TO TAKE PROFITS AND
MOVE TO THE SIDELINES.

I AM ESPECIALLY LOOKING AT BKX, DOW, UTIL, AND TRAN. IF THE
TRAN CLOSES BELOW 3,350 TODAY AND WE GET ANOTHER CLOSE BELOW 
THIS LEVEL TOMORROW, IT IS CLEAR WARNING SHOT FOR ME ACROSS
THE BOW.


Best, J.T.