Stocks are closing lower after remarks from Federal Reserve Chairman Ben Bernanke dimmed hopes for a third round of bond-buying.

The Standard & Poor's 500 index is down 9 points, or 0.7 percent, to close at 1,309. The Dow Jones industrial average fell 54, or 0.4 percent, to 12,437. The Nasdaq composite fell 34, or 1.2 percent, to 2,763.

About four stocks fell for every one that rose on the New York Stock Exchange. Volume was light at 3.8 billion. (commentary & photo courtesy of AP)

A tough day on the market forced RSI to pick tow short funds:

• Buy 1583 shares ProShares Short MidCap400 (MYY); Volatility = 2.08%
• Buy 587 shares ProShares UltraShort MidCap400 (MZZ); Volatility = 4.32%

Both these funds have started a new uptrend as the overall market has weakened. These might be attractive as a hedge against further market weakness. Might be worth taking a flyer.

Catch you later.