R.C. Market Report 1.14

• Today: Market got smacked in the morning to start the day. We haven't seen one of those 2% gap downs since last November I believe. Volume is picking up on this decline. This decline in the market needs to be respected. On the news front, things are getting a bit chaotic again. Madoff's house arrest issue to more bank troubles, not to mention after-hour news out of BofA and Apple.

• Tomorrow: Technically, you can put a fork in the rally off of Nov. low. It's done. We'll have to spend more time and more effort to build another base to rally off of. And who knows when that'll be. For now, market will be neutral at best if you are a bull. For bears, next stop can easily be that Nov. low.