It ain’t over till it’s over, the bottom is not yet confirmed, and whatever quick pullbacks that are offered, be it the courtesy of the oversold indicators or overseas cues are promptly met with more short selling. Nothing seems to be working, the bailouts, the regulations, not even the PRAYING!
Like I had mentioned yesterday that it’s very difficult to find supports and only supports which I could see were in hourly charts at 3400 and 3325 and we just went there. Now all hopes are on 3250 (the channel support) and 3200 (protecting the earlier lows and trying to make a double bottom for now….wishful thinking! Any takers???). As for the upside we need to talk a resistance one at a time, how about 3450 and 3550 for starters!
"You may be disappointed if you fail, but you are doomed if you don't try."
Beverly Sills
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