On the Dow probably 10263 or so, on the Naz, really nothing substanial till the 1915 area. Yet with RSI figures at huge extremes, coupled with the complete absence of new lows expansion, I would not take a bearish stance here and would at least expect a sizeable rebound, I repeat, I went out clown bullish at 20% or so cash (actually a tad less since I got back in TASR in AH, now under water (g)). Naz futes are mildly positive, but that may mean very little for now. The RSI on the Naz as not been that low since the March bottom last year. In the last two years, every time we goot that low, the turnips had a local bottom that worked (early May, Early July October 2002 and a minor bottom March this year (which fooled the turnips since that was a major, not a minor bottom...). I would have felt better about this call if the equity P/C ratio got a little above 1 (it did in those four prior occasions), but you can never get all your indicators in tow...
