ES tagged our next downside target this morning……tagging the 4319 target we posted back on Jan 3 [see: De Facto Shutdown.]

The only question now is whether stocks will get the big bounce they usually do after a 10% correction or whether they’ve come undone. In other words, I have this 1969 Guess Who classic on a loop this morning. The lyrics seemed especially apt for today’s equities market.

She’s come undone
She found a mountain that was far too high
And when she found out she couldn’t fly
It was too late

From the ain’t it cool department…Burton Cummings rocks a pretty convincing Seattle grunge look 50 years ahead of the crowd, plays a mean jazz flute (inspiring the future Ron Burgundy?) and scats in a frickin’ rock song.

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