Watch Japan

Until the Nikkei bottoms, this market won't be able to bottom.  Based on the Nikkei chart, after that egregious gap up yesterday in the Nikkei, it is still too early to call bottom in that market.  Thus, you can't call bottom here.  Wait till tomorrow, we are possibly looking at total give up in the Nikkei ahead of the weekend which would mean big red in the futures.  I am waiting to buy, it is too late to short except for the very nimble.