I have the same sort of feeling our market has or is near the bottom and is due for a bounce. I think we are just waiting for some good news. I am long the SPI on Friday night...reason for buying...
SPI hit my fib support on daily chart, retesting support at this level, if it doesn't hold I am out for a while, I give up...
The market already factored in about a 1-2% drop on Dow on Friday, a 3.5% was a little more than expected, but the wild swings on wall street are on increasing volume, which indicates to me we are now finally nearing captiulation....but not an end to volatility.
I am expecting a small drop on open and hopefully a green finish with a small gain.
There are many people waiting to get back into the market and are now starting to see opportunites, the buyers will be back..:)...(hopefully)
I think we are getting somewhat immune to the wild swings on wall street..
Just my feeling and take on general take on sentinment...but have been wrong many times before...
