More Questions

Finally, the market has pulled back. The SP500 bounced off an intraday low of 878.94, less than four points from the 875 level many market participants were watching for test of support. Is this it for those that have been waiting for the dip to buy into this bear market rally? The Nasdaq 100 broke below its 200 SMA support. Will it climb back above the 200 SMA or dip down to find support at 1280 level? And the DJI went below the 8400 support. Will those last holdout skeptics and the buy-the-dip crowds finally get pulled into this rally and push the DJI up to the 9000 level? Lets see if the market will answer these questions next week.







Until the market has answered, I will continue to trade cautiously with reduced position size and tight stops.