As I said last Friday, Market continue the down trend and head to the January lows, It is very possible to create new lows based on TA and SA of current market situation. Friday's job number could be fatal. It is a make or break deal.
Market may take a break on Wednesday or Thursday and wait the important number. If job number has some improve from last one, market may calm for a few days. since the expectation is low, it is not impossible. But if it shows any worsening sign, that could be fatal.
The three major market indicators ( Dow, S&P, & Naz) have broken down each trading range established in past 4 weeks. Naz and RUT officially enter the Bear market. Both droped more than 20% from each Oct. Tops. It is the strong confirmation that market will continue to the new low or at best near the last low. This is the final touch down, the characters of final shoot is long and strong. Don't expect sharply recovery from market deep lose until the last moment. Because the damage is huge and deep, any gain will diminish by those hang over or left over bulls along the down trend path.
Last Friday, a so call HH merely based on last 5 minutes trades on Friday and predict QQQQ will be 45-47 soon, GOOG and AAPL will lead QQQQ to there. I never see so ridiculous analysis and so laughable prediction. But I did not say a single word. I'd rather let market to say so. Today, anyone can tell that the prediction became a big joke. I am not caustic to anyone. If you trade by yourself and make comments on market, that's fine. PPL make mistakes. But don't try to be pro while at same time to have such a irresponsible practice. Don't mislead those green hands. They don't need to pay somebody to mislead them. They can do perfectly well by themselves. The reason I am so critic is I learned from someone I respect during weekend party, her husband already lost more than $20000 since join the group for paid blog. I believe he is not alone. If you really want your service continue, try to lead your readers stay away from the trouble, not the opposite of it.
After final touch down, the real hope will emerge from the dust. The new uptrend can sustain for long time. It already appeared in horizon. I have been very patient to wait that moment. So keep your power dry, and gun load and be ready to embrace the sustainable uptrend. It will come before long. But we will see some darkest nights before dawn.
Take care and good luck my friends.
