Some benchmaraks are reached. The VIX hit 30; the put/call ratio is 1.24; odd-lot short positions have been high all week. If it weren't for the bad news from the MACD lines on the Dow, S&P and the NASDAQ, one might be tempted to buy in spite of the negative yield curve in the money market.

For some reason, St. Patrick's Day is sometimes the bottom of the equity market. It was a wonderful time to buy on that day in 2003.