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....
Hi Mark,
ReplyDeleteSorry 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,
ReplyDeleteI 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.