Bottomed Out..... - Tuesday, page-2

Between a Rock and a Hard Place. Monday Evening Liqueurs. 31 August, 2015.

XJO down -1.08%. The range today was 2.02%, so the Index finished about mid-range. Volume was very heavy at 134.4% of the 20-Day Average. Monday is usually the lightest volume day of the week, so that increases the significance of today's heavy volume.

So - we had one helluva battle going on between the bulls and the bears. The bears won on the final count, but they were looking very groggy at the end with bulls showing plenty of fight in the last half hour or so.
Given the very heavy volume today, this looks like a wash-out - except it's not coming at the low end of a trend. Interesting.

Here's today's XJO chart:



Horizontal support held. Oblique resistance held. Between a rock and a hard place.

Indicators have plenty of room to move to the upside. I think we will still see more upside in the near future.

If last week's low holds - we could have several weeks of upside movement.



RB.