Here at mid-day the bears are showing that they have complete control of this market. There hasn’t been any attempt by the bulls to push back the indices into positive territory – which is surprising really since this is the last day of the trading month, and you’d think there would be some traditional window dressing by the funds already occuring.
But don’t get too excited just yet, the bulls have pulled off some late day heroics of late, and fully expect an attempt at a counter trend rally of some kind before the end of the day, so be on guard.
For now, here is how everything is shaping up…
A close below the 1022 would be huge and would likely bring more bears out of the woodwork (such as myself) and begin pushing this market down even further.
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