So 1270 did not hold. Do we now have a bottom? IMO we have a small tradable bottom but the next "real" bottom is out there some where in time. Below are some bottom picking charts, have a good laugh with them.
Well we "topped" off at 1325ish, at the present but don't get comfortable with that. The decline is likely to be several bounces and several swift drops, but the first great stop is suggested to be in the area of 1270-75. We will just have to see a little later as there are some very mixed signals. I don't think this is "THE TOP" but 1400ish probably is.
Now what? Not real sure but the suggestion is still some bounce around, swift, as suggested but the real problem now is will the 1270 hold. IMO not for long and then we are faced with 1250/55 (weak), 1223/25 (fair), 1190/95 (strong), then the good old 1178 and on to 1145. What happened to the outside chance of 1400 as 'THE TOP", ------- 1270 HAS TO HOLD.
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Comments welcome,
