Editor's Note

We will not know for several days if the trend has changed but the outlook today is bearish. With the Dow down -274, Nasdaq -123 and S&P -38, Friday could either be a monster rebound as shorts get squeezed or a follow through day where we see new lows. Given the location on the calendar, the lack of upside catalysts and the political upheaval in progress, my vote would be for another decline but that is just an opinion not a guarantee.

In 2017, we have not had a follow through day after a big decline. Each drop has been followed by a neutral day of a rebound. Eventually these trends end and a real decline appears. The big cap techs imploded and all closed at the lows for the day. Nobody was jumping in at the last minute in expectations for a Friday rebound.


No New Bullish Plays


No New Bearish Plays