Well the bulls have to turn up very soon as many major stock markets are on the thin ice part of their charts. Many times in this post credit crunch rally we have seen the bulls pull out the stops. Failure here and we will be aiming for the October 2014 lows as a first major test, imho.
Absolutely right. Every bottom has been a spike bottom, but usually always at a MUST HOLD or MUST BREAK LEVEL.
In recent cases thats been around the 100 DMA on SPX. That is currently 2068 ish against yesterdays close of 2085.91.
So lets see crooksday Friday and then WNER Monday’s action, but I feel more downside yet in this run (irrespective of an pollux bounce basis WNER)
Plan your trade, trade your plan!