Appears to me we have seen the end of the four week decline in the market.
And, we should get a week or two relief here, with a nice bounce.
I can now count completed zigzags, from the top, in the COMPX and INX, with a double zigzag in the INDU. Yesterdays lows in the COMPX futures @ 2113 was not reached with todays selling onslaught. Todays low of 2120 was tested in the afternoon successfully and we rallied a nice 10 points into the close. Stochastics are still way overold and need some upside relief. Plus, the market showed signs of life as the TECHS rallied nicely: AAPL/HPQ up 1.5 %, MOT up 3% and GLW up 4%. The next market leaders?
Anyways, I’m tired of looking at all the red on my monitor … I WANT TO SEE GREEN!