March 21, 2006: U-Turn B/O

As mentioned yesterday I was expecting a b/o of sort today based on the 4-day cnsld pattern above gap. Boy, did the market do that or what? Yes, there was an earlier b/o then the market just tanked!! I wouldn't panic and start addressing the short side yet since I see a V-dip reaction to the upside, as shown by arrow on Dow chart. No observations other than ER & YM closing below their 200ma.