Agree with others XJO oversold and wanting to bounce. Thought it...

Agree with others XJO oversold and wanting to bounce. Thought it held up pretty well today considering the carnage overnight and breaking support. Strong fight back on close left it in the game still.....

(wrong chart posted....see next post)

But to achieve any meaningful bounce will likely take some serious upstream swimming.

Dow weekly break down of support after a 5 month rounding top,



Dow daily we can tighten the channel a bit and see it broke that and the 200dma. Not a healthy look that would have me rushing out to buy. Risk/reward isnt there, so not so sure wall street will give us a lead from which to bounce.



Then China....triangle and 200dma breakdown. Again not exactly the signal to rush out and buy.