R.C. Market Report 09.29

• Market Trend: Downtrend

• The market took a historic beating today. Although it felt like capitulation on an emotional level, trading volume didn't indicate massive panic selling. This may mean that the selling pressure is beginning to wane in the near term. We are now back to wondering what will the Fed do next. Technically, we made fresh new lows today, breaking the support from last last week. If we are to make a short term rally from here, it'll take a few days to form a bottom. September is historically the worst performing month of the year. It surely didn't disappoint this year.