We probably have not hit bottom yet but neither have we had the death and destruction that you have been calling for. The $Nysi has declined at last count by a net about 1300 + points while the dow currently is down about 450 points off of the high from a run up of about 3550 points. Not too bad a correction and as it now appears we are closer to a bottom than we are a top in the dow. On the nasdaq the $nasi has dropped by about 1200 points while the compq has dropped by about 200 ish points, again not bad. Looks to be controlled ease and no evidence of a waterfall drop just yet.
I am neither a bull nor a bear but as yet there is no long term techincal damge to the compq or dow charts. If there is please post the charts showing the damage. I expect that the nasdaq will break 1890 but as yet in all of this drop it has failed to even do a downward 3 box reversal and neither has the dow on longer frame charts. The dow needs to see at least 9800 which I hope it does and the nasdaq is likely to see a test of 1800 but neither is a nose dive.
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