MMCLUB

[denmo83]

If you guys keep up with the compliments...

I'll keep coming back. Remember, I said I'm easy.

With the increase in volume, to me, it has become apparent that this selloff is more than just a little selloff. The downtrend in volume was decisively broken yesterday and today exceeded yesterday's downside volume.

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[h,a]daclyiay[db][pc13!c20!c50!c200!d20,2][vc60][...

There will be some kind of bounce coming as nothing rises or falls in a straight line. It may come tomorrow as the price fell out the bottom of the bollinger bands. Keep in mind that it doesn't necessarily have to bounce upwards to get back inside the bollinger bands. A day or 2 sideways would do the trick.

For now, I'm remaining in the foxhole, in cash.

What we do need to watch for is, after the bounce, how the market reacts. Specifically, the volume. If it tests wherever the bottom lies on dramatically decreased volume, that would set up positive divergence on the short term charts. For right now, on the short term charts, the MACD is confirming this drop with the MACD following the price down.

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[h,a]eaclyyay[d40][p][vc60][iua12,26,9!lp14,3,3][...