With all major indexes now having dropped below last fall's lows and sentiment extremely negative -- the stage is being set for a decent bounce soon. But the turnips probably are too optimistic on the extent of the upcoming rally. I see maybe 10% on the Dow and S&P 500 and 15-20% on the NAZ.
Looking beyond the looming bear rally, the violation of earlier troughs is EXTREMELY NEGATIVE and signals substantially lower lows in the next decline IMHO.
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