No – Not Yet
Oct 10,2014 As I start writing before 7 a.m., Futures are down quite a bit
I Got a funny email, it said, "With this sell off- When will you know that you're wrong?" - LOL Now I assume that the writer just worded that wrong and was really trying to say, "When would you know if this sell off was more than the normal correction that you expected?" OR Was that just a Freudian slip and the writer is telling me I AM wrong - when are you going to know that ? Let me put it this way, I am watching closely and the CNBC TOPIC is "Is this more than a normal correction? Or Is this going to be a Panic Sell off?
When everyone expects it before it happens, and FEAR is everywhere, they are usually wrong. The best way to follow it is....TO THE CHARTS!!
QQQ still looks strong. This is NOT a chart of Weakness (So Far)
Despite the cries of things getting scary - The QQQ on this next chart looks like every other correction before a strong rally