Minor Extremes
Well, it’s pretty clear that the Fed buying kicked in strong this morning. I got out of my shorter-term bearish stuff and am largely in cash now. Here are a few important indexes and their approximate ‘bounce points’ back up to resistance:
Dow Composite Index (DJI)
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Nasdaq Composite Index (NDX)
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S&P 500 Index (SPX)
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Semiconductor Index (SOX)
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You're showing my leading scenario for the days ahead - yes, I am cautiously optimistic that most of the downside is in. I am laying the case, arguing it in detail here too. Good job through the years and today!