One Day Reversal

 

SPX FROM THE WEEKEND REPORT - This looked like a likely area to get a reversal, and after Monday we do have one in place.  Question is,  is it a Solid new low, or Just a bounce?

 

It may just be a good bounce, but it also may be a good bounce that is just another temporary bounce into the final low. Let me show you a few things

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March 24- Weekend Report

 

SPX - The SPX is near the 200sma, and this was where I said that I would begin to look for clues of a bottoming process  ( long term or short term will be determined later). Will this do a quick shake out?  Maybe, we are on day 29 of this daily cycle, but lets take a look at a few of my indicators.

So this is what I also found...

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March 23 – Fridays Trading

   

DJIA   - The DOW was down 724, and THAT is scaring a lot of people.  We have been expecting this and so far, it is what it is.  At this point I am looking at us on day 27,  markets can fall further,  watch for support at the 200sma.  It CAN BE BROKEN in a shake out,  we wont be buying without a swing low in place.  I will discuss my experience in later reports.

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