Market Sense and Sentiment

[bbgold]

Hi Bernard, I think that with the markets declining then that should accelerate the tax selling that will be coming in. Just as Everyone wanted to make sure they were In for the Rise Everyone will want to make sure that they are Out for the Fall. If anyone was contemplating selling then this will be a good opportunity. If we draw our line across from yesterdays support at 9920 then we can see that is where we met resistance today and turned back down. The market moved lower to 9800 which was a previous support level from weeks ago. When looking at the charts just draw a line straight across to see where the different levels will be at and then watch for them to hold or fail. If they hold and the markets are in a downtrend then look for the market to turn back down from the next resistance that was previous support. In this case it was 9870 but it did not even make it there before turning back down. Now a break below the support at 9800, if it does not hold, will signal a move down to around 9700 or previous support. We Shall See! Long term we are still in an uptrend though so keep an eye on the resistance levels to see if they hold or not. Good Luck to All! :^)