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The Dow was down another 500+ Points, and we see the general markets are at new lows again. This is not a surprise to us, I covered my thinking in the weekend report, so lets do a review and how things are playing out. We also have the FOMC meeting this Wednesday, so we will touch on that...
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SPX #1 - I captured this after the first hour of trading and I posted it in the chat area. Each morning Gap higher ends up selling off. Would this be bought up into the close this time ?
SPX #2 - No, it closed slightly red. I have been watching the Cycle count in anticipation for a DCL ( ICL). I said that day 18 was too early and now we have a day 28 low. THAT might also be a bit early too, since many daily cycles extend to 30 plus days. This could just surge higher and be counted as day 4 Friday, but take a look at this...
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