The thing here is that on the way down, all anyone asked of me was: "Is this the bottom?" Of course, a bottom cannot be formed like that. Over the past week or so, no one is asking anymore, because they are sure that it is going way lower. I know I'm sticking my neck out here, but with volume so low, I think it's a lack of buyers rather than a lot of sellers and prices are simply drifting down rather than getting pounded.
As far as I'm concerned, there's only a hundred points or so to go on the NDX before testing the April low, which is really not a big deal point-wise. Psychologically, though, it will be. But of course, it still needs to clear the falling wedge and get out of bear trap territory.
T. |
