Monday, October 6, 2008

Grrrrrasch

There was nothing nice about todays market except for the rebound near the close.

All the indicators are oversold enough for a bounce or more crashing. This makes prediction about as good as flipping a coin.

My gut reaction is that Monday Oct 6 was some kind of a significant low and that we could bounce Tuesday.

It is possible that on Tuesday we may start off going a bit lower intraday, but a number of my near term price targets have been met and a bounce could occur if there is no negative news overnight. The charts below are what an unstable market looks like, IRA investors should remain on the sidelines.

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Click to enlarge.


New low swamped everything else in what looks more and more like climatic behavior.
Click to enlarge.

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