da - You could very well be right. Nobody knows for sure. This could be the start of our 8yr Cycle Correction. There is a lot of room in the weekly oscillators for the market to swing wildly either way. I think a bounce at the 200dema on the Nasdaq is in order because the RSI is almost at 30 and one of my ST McClellans is in extreme oversold range. This bounce could last a couple weeks based on the low RSI, but I think the smart money will start looking to unload positions on any up move at this point. We should carve out a nice bottom between now and end of October.
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