Ok folks I have been very busy these last two weeks but here are my thoughts here. I believe we have close to a bottom if not at a bottom right now. I have noticed the action this week and the bears are taking profits the lower we go and that to be signals the downward pressure will soon subside. The weak long are being shaken out right now and when that is over, possibly between now and end of month we should go up.
The problem here is when does this all happen? I have a significant low in my analysis setting up in the next 2 weeks but I see many time cycle guys saying before next week, so I will use their projection instead of mine. A rally wont be a rally to DOW 12000 so dont look for any miracles as I said last year the market is broken major and need a long time to recover.
Citibank death, GE death ( read my post on Tuesday about huge put activity that was the signal GE was goign lower), WFC death and a whole lot more.
Careful here this is dangerous territory better to stay out till the dust settles.
MARKETJEDI
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- Bring real information to the average person about the Financial markets. I am a technical trader that uses alot of technical tools such as Fibonacci, Bollinger Bands, MACD, TRINS, VIX to read the markets
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