R.C. Market Report 10.02

• Market Trend: Downtrend

• So the Senate passed the bill last night. And the market dropped 350pts as people finally started to acknowledge that the bill isn't going to fix the problem. The selling in commodities and energy seems a bit overdone but the economic data indicates that general market loss is justified. I'd be a firm holder of any short positions. However, if the bulls plan on doing anything near term, tomorrow is set up to be a good time for a short rally. Market sold off in anticipation of horrific unemployment numbers tomorrow morning and the House votes on the bill during market hours as well. If the bulls fail to manage a respectable rally tomorrow, I'd be very bearish going forward.