Hi Bob,
Yes, the DJIA bottom spotter was activated 4/10 at -0.285 and as of Friday's close, it is -3.933. Also, the SOX bottom spotter was activate on 4/5 and as of Friday's close it is still activated and has a value of -2.394, it's lowest value for this period of activation. Interesting that the SOX led the way and despite some indication that the SOX may be turning around, the bottom spotter has continued down.
Also, both the DJIA Mojo and the SOX Mojo are in the RED zone.
Since I am not very good at Elliott Wave and Fib retracements, I base my opinion on the combination of the active bottom spotters and the Mojo. Those, to me, are saying we are not at the bottom yet. On top of that, the short term sentiment index, the Fear and Greed Index, still hasn't dropped below the neutral zone. Is it possible that this market will continue to move down into the full moon on 4/23?
WEagle |
