Friday's Outlook: Overseas Ugliness

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Overseas things look even worse since there’s some dollar repatriation going on with domestic selloffs and folks had bid these sectors ever higher.

Time is tight and websites like StockCharts are jammed and slow which shouldn’t surprise.

Today is options expiration followed by a long weekend in U.S. markets. Who knows what else will take place between now and Tuesday’s reopening. Tuesday could be very ugly if current trends remain in place by today's close.

As I’ve written over the past few weeks, this market looks very much like late 2000 and early 2001. That won’t be pleasant for bullish investors.

Have a pleasant weekend.

Disclosure: Among other issues the ETF Digest maintains long or short positions in SH, SDS, MYY, RWM, TWM, PSQ, IEF, GLD, GDX, DBA, DBC, DBB, EFA, EFZ, XLI, XLB, XLU, RSX and IFN.