I was long and and took my lumps since 905 S&P was busted. I offset all previous from decline form 9000 until today with hedges. I lost whatever hope that tech stocks will resume any up channel action because shorts are in control and will overdo it. That makes it hard to judge where the botom is because success with shorting begats more shorting.
All charts point to bumping to these declining levels until any number of lower support levels are reached again.
Especially worrisome is the McCellan charts which look like crap.
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