Hello and welcome to my blog.
The spreadsheet link for BB18 is below. This is not a recommendation to buy or sell any of the stocks listed. Due diligence is your responsibility. If you need professional investment advice then find a professional.
A second day with lots of orange down alerts. Short term perhaps the pendulum has swung to far. Extremes do not last. Maybe a dead kitten bounce in the next couple of days.
Call it a line in the sand for the Dow at 7500. A nice spinning candle something today. Since so many folks are looking at this level it has become important. It will not be a pretty sight if there is a breakdown through 7500. If it does hold watch for previous support to become resistance.
If a break down occurs my guess at the future would be a Dow around 6300 to 6400. Ouch. This is a very rough measure of the recent support and resistance levels. 6300 is a nine number while 6400 is a square. Remember this is just a guess and no one knows. To use a quip by Art Cashin, "it will happen at 10:30 Tuesday".
Personally I think that too many things are wrong with the big picture stuff for a positive resolution of the markets. My expectations are for more down. Of course the market will do whatever it wants in the future. As always it will be an interesting game to watch.
Thank you for your time.
http://spreadsheets.google.com/pub?key=p5g7vLKhkez4-XayE4NEgWg
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