Abet Chichi2

[chichi2]

The Big Question and MajorMoves Comments for 10/15 Chichi2**

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The Big Question:
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#1 Will Last Friday's Bottom Hold?

First, let us see where the Major Sectors are as of Today.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32608190

** One of the Nine Closed BELOW Last Friday's CLOSING BOTTOM.
** Four of the Nine Closed TIED WITH Last Friday's CLOSING BOTTOM.
** Only One of the Nine Closed at a Point that it is Improbable that it can not make it to a New Closing Bottom, tomorrow.
** The other Four Closed at a Point that it is Possible that they could and would make a New Closing Bottom tomorrow, if there is Down Action Tomorrow.

So in Sum, if the Market Moves Down Tomorrow, over 1/4 to 1/3 of what those last 4 Sectors did Today, and very little moves by the Tied Sectors, there will be "at least New Intra-Day Lows" BELOW LAST FRIDAY'S CLOSING BOTTOM in EIGHT OF THE NINE Major Sectors.

This will cause At Least New Intra-Day Lows for many of the General Indices.

There will need to be AGGRESSIVE action to Turn this Market.
Minimum of Strong Action by FedMrtOpns.

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Will SPX Channel Bottom Hold?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30860987

SPX has presently covered very roughly 60% to 65% of its Rally.
If there is a Downer of some size, it is possible it will go below its Channel lower DownTrendLine, however, there is a reasonable probablity that it would close within that Channel, above that lower DownTrendLine.

CBOE Total Put/Call Ratio was not Large Enough to call for a Turn.

Altho Volume picked up at Close, it was not enough to call for a WashOut.

These are among the observations that make me think that
there will need to be AGGRESSIVE action to Turn this Market.
Minimum of Strong Action by FedMrtOpns.

#1 Will the October Bottom Hold as the Lowest we have before we get out of this Recession that is here or coming? I think not, it will be tested over the coming years.

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Interesting Level of Belief in USA and Self-Reliance:
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Wells Fargo is to go ahead with $20B Stock Offering
http://www.marketwatch.com/news/story/wells-may-use-20b-stock/story.aspx?guid=%7B988E365C%2D867F%2D459B%2D8DC0%2D416987C2B488%7D

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MajorMoves Comments for 10/15 by Chichi2**
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http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32891039