More decline?
I'm still expecting a continued decline.
You are quite possibly right. My Long trade was stopped out a couple of days ago as the $COMPQ broke below the critical support line accross the July and August lows:
However, the various intermediate-term indicators I use (descriptions of some of them can be found in the header of this forum) failed to indicate a top - although some of them issued Sell signals. Now most of them are neutral to closer to a Buy. To me, this means that a test of the July low is in the cards. We might get a small bounce there, but the indicators are sufficiently neutral (i.e., far away from indicating an intermediate-term bottom) to suggest that the bounce will be short-lived and the July low will be broken soon.
It is too early to tell where we'll get the next intermediate-term bottom signal. As a wild guess, I would say that the $COMPQ will reach to around 1070 - but please understand that this number is very unrelible right now.
Regards,
Vesselin
I'm still expecting a continued decline.
You are quite possibly right. My Long trade was stopped out a couple of days ago as the $COMPQ broke below the critical support line accross the July and August lows:
However, the various intermediate-term indicators I use (descriptions of some of them can be found in the header of this forum) failed to indicate a top - although some of them issued Sell signals. Now most of them are neutral to closer to a Buy. To me, this means that a test of the July low is in the cards. We might get a small bounce there, but the indicators are sufficiently neutral (i.e., far away from indicating an intermediate-term bottom) to suggest that the bounce will be short-lived and the July low will be broken soon.
It is too early to tell where we'll get the next intermediate-term bottom signal. As a wild guess, I would say that the $COMPQ will reach to around 1070 - but please understand that this number is very unrelible right now.
Regards,
Vesselin
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