Friday, November 18, 2011

One more push down?

The market bounced just a little today and could continue on Monday. But so far it is looking like the 4th wave (corrective) before going into another leg down that will possibly test 1180. Usually bottoms come after a sharp sell off (or capitulation) so maybe we will see it early next week or maybe it will happen in pre-market hours. The market is already oversold (but with some more room to go), so a rally could happen at anytime. I favor a rally after Thanksgiving that could possibly last all the way until January so we will soon find out.

Have a great weekend!

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