Again we have an average-volume down day - if market retests last week's low with light volume, we may have a better chance forming a W bottom. But don't bet on it, and buy only after short-term up trend is established. SPX found half-day support at .5 fibo and then breached it, it looks like 1310-1320 is inevitable.
DBA's volume almost doubled today leaving an ugly candle - I believe it is finally ready to roll over and agriculture names will get hurt. My POT put, unfortunately was stopped out too early, shoot!
Every sector is in a down trend, at least for short term, except transportation, agriculture, and natural gas. But it is hard to believe they will hold out any longer.
When everybody expects a big down day tomorrow, and when everybody holds their breath for a W bottom, it makes a contrarian indicator. Will market surprise us tomorrow? If so, with what catalyst and who will step up to buy?
There are no big volume up stocks from Dow/Naz/IBD, except DIS.
