Things Are About to Get Ugly…
[?]
Submitted by My Ambitions as a Trader and Investor
I’ve been warning about this type of situation since the end of March. I remember telling readers that although we will see the markets moving up in the short term future, they would need to climb up above (and stay above) the 200 day MA in order to signal a bottom. All the major indices have tried this and have failed quite miserably. Based on the charts, I would look out for some more downside in the upcoming days and weeks. In fact, the DJIA will at least retest its levels near the 52 week low. If things get really hairy, watch for a new low to be placed in.
