Dennis, Cycle bottom,Fib.62% strong support at 3650,VIX,
my reading of short term bottom from yesterday around 3:30pm,supports MSFT,DELL,CSCO,INTC,AMAT,WCOM......not destroyed, ALL THAT is pointing for at least short bottom.
From here,we should get to at least 3900-4000 and consolidate to restore all technicals,which are pointing down now.After,will be second decision point,to go above 4000 and higher or the worst scenario, if 4000 will be
impossible to reach,we can test 2900 area.I do not think,
that will happen,but I can't exclude it either.
el
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