A most of you know I follow something called turn around tuesday especially if Monday was a trend day. Today was definitely a trend day down and based on that I am looking for some upside tomorrow. Today was a lousy day for the bulls but I dont believe the rally is over just yet. I am still thinking the bulls will try again before it is all said on done before years end.
Timing is always the secret in the markets but I think it is more logical for the market to sell off in January than in Dec based on empirical studies so I will stick to that thesis for now.
lets see how much the bulls want to stabilize us here near term as I think 900 on the S&P is still in play. NOW "IF" we dont remount that 897 level from last week before end of next week that will put us on watch for 676. YES 676 which is a new low. I do believe that number will be in play but not before the new year.
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