fraught friday, page-48

This is no time to be heavily short.

Just perused my daily/ weekly/monthly charts.

Weekly MACD has exceeded 2002/3 extremes and is within a week or two of 1987 extremes.

That doesn't mean new lows can't be seen, but either minimal or very brief or after a big rally or multi month one.

I would have loved to see March 23 as a low and it may manage by a sharp day or two move at that time.

The biggest worry is a high at that time which would suggest a slower but prolonged bear into Oct at least.

Can news get more bearish than now? Perhaps and I am sure conditions will but my TA says time to lighten up on shorts and expect upside market surprises.

Banks down 1/3rd, BHP was earlier.

Maybe we get 50% but no time to geat too pessimistic or too greedy.

How many here are talking positive.

Probably Farsight and he is never wrong, OK almost never wrong.