I've never seen a lasting bottom occur when things were so calm despite continued weakness. On Fast Money Halftime Report, I didn't see much fear, traders were looking for bargains and happy that 1040 held. Maybe we can go up a bit from here. But if we go up from here, I think it will be another rally that is sold, probably around 1070. 1015-1020 needs to be tested before we get a sustained bounce. If we fail at 1015, then 980 is in the cards.
Well, we're are firming.
ReplyDeleteIs the market doing what it did in February?
This decline is much deeper and seems like it will last longer.
ReplyDelete