Dominant Downward Path

Tuesday’s heavy-volume sell-off with an 18 year high in new 52-week lows for the NYSE is the kind of thing markets tend to rally from.

As the selling exhausts itself, there’s often nowhere to go but up.

Wednesday and Thursday’s rebound is long overdue, but we can’t ignore the still dominant downward path the Bears have been paving for us.

And more importantly, as Growth Stock players we need to wait until next week for any sign of a follow through day via heavy institutional buying to give us a signal to buy.

Stay tuned…

Advertisements

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: