R.C. Market Report 1.15

• Today: Market has gotten more volatile these past two sessions. The intraday moves are larger which is nice to see. News out of banks remain horrific but the market seemed ready to jump on the news of any government action. Or maybe it was just the marketmakers having a field day killing off front month put options. Lastly, market ended with breaking news about a bizarre 'airplane vs flock of geese' accident.

• Tomorrow: It's apparent that a rally can happen at any time for any reason. But the clear break of support that occurred this week should not be forgotten. The reason for today's midday rally is hard to believe in looking long term. I expect further downside, if not tomorrow, then next week.