Last week said a short term bottom was expected. Bottom was 1 day later than expected. Recovered a substantial part of the loss from earlier in the week by Friday. Short term it appears we should see some gain first part of this week. Expect a top by Friday unless the unexpected happens in Europe, mid East or China. We could also see multiple cases of Ebola in Dallas (fear is not good for the market).
But based on short cycles expect continued volatility with market highs in latter part of week or fist of following week...
Here is a short term chart outlook:
GL traders. I expect to replenish my RWM positions by end of week...
update after close 10/07/2014
Weakness continued and buy signals failed to materialize...
Longer term charts showing weak Oct seem to be in effect.
Opened higher (expected) then turned down (unexpected) and closed slightly red for the day. Market weakness may mean any upside will be met with selling?
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