bear

I still believe we are headed for a test of the 200 day moving average at S&P 1253.47.   That may not even hold but the line beckons there like a neon sign.   But I don’t think it will happen next week.  In fact I think we are close to a bounce.  As you may have noticed from our tweet this morning, we were quite active buying stock.  Not all of the ideas worked today but a surprising number did.  Two reasons I believe we may be a near a short-term bottom is that the 7 day RSI is not confirming the downward magnitude of Friday’s decline.  Also there are … Read more