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Strategies & Market Trends : General market lab and commentary

SPY 683.47

+0.6%

4:00 PM EST

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From: Robohogs	2/19/2016 8:52:32 AM
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Over on another board I mused that I thought we might have a down Thu/up Friday and a couple of days next week scenario. Here, I thought we might just keep going - my thought process developed between post here and over there. Well it looks like we might have to look for more rally early next week, as timing looks too early for turn down to me. As of now SPX and surprisingly IBB are both above their 5 and 8 days. We prob lose IBB today. Downturn yday was not so bad EXCEPT FANG and bios and oils. I like the breadth - SPX and NYSI were barely down. Ditto IWM. Materials and Utes starting to lead. Mkt has done nothing new that is wrong yet. It may soon but not yet. I do believe we go oversold early next week and rally again. Just to show you the different thoughts in folks minds,here are 2 headlines from a trading site today: 1. Things Can Get Ugly Again Very Fast 2. Don't Sweat A Small Decline Most folks have their minds made up already. Jon

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