Which Way Wednesday – Testing The Weak Bounce Lines – Again

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That's right folks, the rest of the World now views us the way we used to view the Soviet Union. Isn't that great?  

We made no progress in the markets yesterday and today we've got another chance to make those weak bounce lines (see yesterday's Morning Report).  The Nasdaq isn't even back to it's -10% line at 6,870 (/NQ) and the Russell (/RTY) is still below 10% (1,485) so we'll see if the NYSE can break the tie and hold it's 10% line at 11,880 and the Dow will be the first to test a weak bounce at 24,800, which would be up 400 points and, sadly, failing to hold a 400-point gain on the day will be nothing more than a sign of weakness.

Be careful out there…

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Disclosure: Our teaching theme at Phil's Stock World is "Be the House, NOT the Gambler." Please see " more

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