The Sky Isn't Falling.... - Thursday, page-2

Rebound. So? Wednesday Morning Joe. 30 September, 2015.

XJO up strongly +2.04% after being down -3.72% in the previous session.

Today's volume was extremely high - more or less in line with yesterday.

So this could be a medium trend bottom. But we need to see more upside action to be sure of that.

Here's the chart:



Any body betting against this down trend so far, has lost their money.

We do have a pivot point on 28 September. If the market can get over that, we might see more upside for a while.

That pivot point is around 5113.5.

DPO is trending up while the 20-Day MA on the Index is still pointing down. So we have a positive divergence there.

I often get too optimistic too early in a bear market - so I have to be wary of my own biases.
But this does look like a probable short term bottom with some degree of upside coming. Take that with a grain of salt.

RB.