Chart of the Day (What We Expected)

Yes, a 1,500 Dow point decline in two trading days is dramatic. But if you've been with me here are on the blog, you'll recall that roughly 3 weeks ago I suggested that at least a test of the October low was highly likely. I pointed again to that likelihood last evening.

Here's where things shake out as I type:



As uncomfortable as this may be, it's to be expected given the current short-term dynamics playing out in the markets...