A further break-down in the broad market.
Increasing panic within the financials.
A further weakening of the US Dollar.
Expanding new 52-week lows in listed equities.
A break-down in the Nasdaq and NDX indices; no longer bucking (and bucking!) the trend.
Nasdaq Volatility surged to the levels achieved in August.
If you're thinking this is going to be another routine correction for the US markets and that the rewards for buying-the-dip will be plentiful as always, then I envy your courage. But you sir, are no Joe Kennedy.
And there's really no need to rent any scary movies this weekend. These three charts will do the trick - though not exactly nicely...
Dow Jones Industrial Average - 1900 - 2007:
*Credit StockCharts.com and Historical Charts for the above charts.
**The DJIA chart is as of 19 October, 2007; the alltime closing high, 14,164.53, came 9 October, 2007. The Dow closed Friday at 13,042.74.
...I'll talk to you Monday; where if we are down more than .75% in the pre-market futures I am adding aggressively to index shorts before the normal trading session opens. Good luck out there.