It is about -750 for the Naz and -1050 for the NYSE, and yes, these indicators are signaling a close bottom here. The lack of puts writing indicates that the quality of the coming bottom (I still think the end of this move is within 30 Naz points of the close today, namely 1842 will not be close, but who knows...) is not particularly good, and instead of "launching from this weeks low, we may meander in the general 1850 to 1930 range for two maybe three weeks. Still I have already reduced cash markedly and am now looking for more swing positions for early next year. I still hope to be able to get back in JNJ and MRK at some discounts from current prices....SKX a little more under $7 and maybe even some TTC, all four for the core.
