I have nothing new to say except to repeat the last part of the last night’s report, for 3 reasons we could see a green Monday.
1. Monday is the 1st trading day of the February when INDU closed in green 8 out of 10 times since year 2000.
2. Monday is now known as very very bullish and so far the pattern worked perfectly.
3. From the chart 1.0.8 SPX Cycle Watch (Moon Phases), now it looks like the Full Moon means a bottom.
The bottom line, no panic no bottom, and right now I don’t see any panic yet, as people visiting my blog are still trending down (I’m confident that’s not because my posts are bad, simply because people still consider the stock market as easy money), as there’s no single Major Distribution Day (NYSE Down Volume to Up Volume ratio > 9) yet, as there’s no big sell off lasting at least three days in a row yet. If you’re bullish and think this simply is an usual shake of weaker hands, then think about this: If those big shakers’ main purposes are for your cheaper stocks, then what the best time is to get them? Yes, that’s when you’re panic. Now ask yourself: do you still think there’s a hope? Do you still bravely buying dips? Do you yet feel your stomach pain and find hard to sleep overnight? If the answers are all Yes, then perhaps the selling isn’t over yet.