Yikes!...10.7.14

Not a good day as the indices all fell at least 1.25% and cratered into the close on accelerating volume,  There's pretty good evidence that we're in a sustained downtrend and are currently on a critical ledge of support.  A breakdown beyond these levels could take SPY down to 185 (10 points away) so this is not a time to get frisky with false bottoms.