I think odds are significantly higher that we gap up than we gap down. If we gap up at the open, the market should sell off immediately and we could get a fear based bottom sometime during the middle of the day, only to close strongly. If we gap down, then we'll likely rally right off the open.
We are extremely oversold being down 4 days in a row, but we are nearing another area of strong support around 1030 on the SPX.
Wednesday, October 28, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment