The scenario I outlined in the previous post is still possible, I see that the $SPX index is nearing it's support at 1275 (two previous bottoms around there) or so. That said, if we get a bounce in the next couple of days, one will have to be very nimble... this is possibly a crash scenario unfolding, so even a very short term bounce is a dangerous play here...
Basically I anticipated the price action on the $NDX reaching the Blue support line on Monday (that's how the chart below was plotted, with the low on Monday), when I composed that post earlier today. It's already about there, so a bounce could take place tomarrow, as the daily Bollinger bands have been fairly deeply penetrated....
1 comment:
thanks
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