xjo weekend zoomba, page-133

Where is we?

90 days from our low of Aug 9!

And about 4 years from our Nov 1 2007 top.

OK, support is there as long as last weeks lows hold.

If they don't then all upside bets off I guess.

The volatility is not encouraging. Volatility is what happens at tops.

The 340 pt day up in the Dow only happens in bear rallies.

The SPI gap left on Friday is the size that has only happened since 2006 and all have been retraced, most almost immediately.

I believe the bear is unfinished. I think we get a rally into March and then its a shocker. But while I thought we might rally up from here, I am now less confident. The March date should be a rally high BUT it may start later than now.