John, we hit that 5% gain from pre Labor day close I was guessing on #reply-16312613- 1792.- notably, that was the HOD.
Naturally when I made that post, I had no idea of the tragedy to befall our land. However, I believe we woud have slid a bit and still stalled at the 1790 point
Right now, Iit feels to me that investor sentiment is neutural. I know I'm sorry of lost. We may test that 1790 again Monday, and if we break through 1825, there could be more to come.
That being said, if we begin to fail, and volume on the upticks is low, we could be in for the mother of all drops(this is excluding and further tragic events)
If my scenario is correct, we fade to the 1650 level. pause there(+/-15 pts) Thaan we fill the gapat the open of 1575 open on 10/9. After thatit's a free faall to sub 1500.
* of course, don't under estimate the ignorance of a bull. There are a lot of J6Ps that have been on the side lines just aching to catch 20% from the bottom. If that is the scse, than we will have one hell of a selling opportunity on our hands come mid November.
I have more thoughts/scenarios that could transpire, but I lack the clarity to shaare them right now(for fear of letting people know I'm a fool- as if the above case isn't suffuciant evidence<G>) |
