Replies to post #42846 on Short Term Trading Member Forum

[SilentOne]

hi chris,

I too have a problem with Friday being a 5 week low. I had assumed this with the price action out of Friday's low. But once we took out Friday's print low, it says one of two things: 1) It was a 5 week low and cycles are quite bearish, or 2) the 5 week low is due shortly and we'll see a bounce into mid-Feb. I go with the latter.

The problem right now is that the charts look rather ugly. But you'd think they would bounce things at DOW 10000, SnP 1050 (/ES), and $TSX 11000. I would not be very short here.

cheers,

john