I will say that after the hammering the market took today, I beginning to have doubts about October being an up month. The S&P500 is about to take out the CBL and destroyed the little internal uptrend line today. Tomorrow will be critical to see what holds.
The Small Cap is in big trouble. The SC creating a lower higher pivot which gives you the ability to draw a downtrend line. The current uptrend is still safe and well below the 50 day moving average, but that 50 day is another problem. It is highly likely that we will close below the 50 day moving average tomorrow which is a major sell signal for me. I will be watching the Small Cap like a hawk tomorrow and possibly bailing out the next day or Thursday. Stay tuned for that.
The International index did a reversal and is in the same trouble as the small cap. So it is very possible that by Thursday, I will be bailing from the S and I. If it really gets ugly Wednesday, I could being running to all safety Thursday.
UGH !!!!
No comments:
Post a Comment