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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 672.07-1.7%4:00 PM EST
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To: Seismo who wrote (77588)1/5/2016 1:24:54 PM
From: Hank Scorpio  Read Replies (1) of 218768
 
I am interested to know how you derive an average decline of 40% in the S&P. I would be in the 25% camp myself, for an average. FWIW, I think if we get to the 1550 area we're probably looking at making a significant bottom. Maybe not THE bottom, you can never know that for sure, but the chart just screams 1550.

So my bias is bearish both longer term and near term, but with the 65 min. nicely oversold, 20-40 S&P points would not surprise me at all.

Are you thinking new bear market?
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