We are now approaching some intermediate scale trendlines, which I have highlighted. Today's low (so far) on the $SPX is almost on one now. Tomorrow or Friday could see a bounce as some indicators are getting oversold. The nature of any bounce that materializes will tell a great deal about the real condition of the market.
End of day update, replaced charts with updates showing today's final lows....
2 comments:
Hi Mark,
Sorry I haven't been active here.
My MT indicator (an mixture of price and volume oscilators) changed 3 days ago to "market is going down" and the signal is getting stronger avery day.
I measure the tsx, but it must be similar for the spx.
Ofcourse the tsx is more gold and oil weighted
Cheers,
Hi Hopper,
I agree with you...this rally today is just a bounce, I don't expect it to last more than a day or two..then on down, we should go...
Regards,
Mark L.
Post a Comment