ThinkorSwim TA and More

[koondog]

The bears win again...this is just like the last couple of selloffs where there was strength early on and then selling takes over. The trend is still down and there is not a buy signal on the daily charts....don't fight the trend. Buy side divergence has occurred on the 30 min. charts over the past couple of days, but has not happened on the daily which should override the 30 min chart. My charts say a bounce is remotely possible but short lived. Remember, yesterday we closed below 1050 on s&p which extends the trend of lower highs and lower lows on a closing basis. More lows to come. When is the real question. Now? Or should we stay afloat until Labor Day. Either way if you are short then you are being rewarded and will probably see even greater returns in Sept. Good Luck to all...it's getting exciting