A nasty day today for sure. The market was slapped down from start to finish with our higher beta stocks really taking some beating. Our all important technical level at 4585 is now within striking distance but we really need to see a solid close below to be confident that the larger swing lower it going to unfold. There have been numerous attempts down toward the 4560 – 4585 area that have been rejected, i.e. met with buyers, but volume is picking up here and the European issues have resurfaced again. Todays weakness was enough to turn our daily trend filter to FLAT which also means our Systematic PowerSetups tighten stops on current positions and remains sidelined until the trend turns higher. I was hoping for a solid end to the year but that now seems unlikely. 2010 may go down as one of the most difficult trading years I have experienced since 1993/94.