long friday , page-44

volt, todays action is pretty informative.. the fade has been substantial, for sure, and we may end flat.. oversold? I think spx is in the oversold zone, specially on weekly.. trouble is, its not in the oversold zone on indicators, but it is in the zone on indicators where previous corrections have ended in this bull run since 03.. so same story as other signals.. if it continues much further down, its more than a correction.. break of the old lows are a good level for confirmation.. that will mean i think both the dow and trannies are below that low, which will be confirmation of the bear in dow theory.. and the other thing is something you've already mentioned.. if two corrections and lots of faffing about in a short space of time isn't enough to shake out the weak longs, and then it still breaks the old low, then its a pretty serious bear signal imho..