SPDR S&P 500 (SPY): Based on what happened today I am inclin...

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Monday, 08/24/2015 7:42:06 PM

Monday, August 24, 2015 7:42:06 PM

Based on what happened today I am inclined to believe that today's lows are not the bottom. The government clearly stepped in to stabilize things and if they hadn't, I think we would have saw an even bigger drop. Last week I called for 195 this week and it's only monday and we touched 182. I don't think the indices will just bounced back from the brutal global selloff we saw today. Now I'm thinking we go to 170's in the next 2 weeks as opposed to going back over 200.

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