Saturday, July 12, 2014
Market Dashboard - Holding fast
In the charts below we can see that the small caps are in a pretty solid downtrend while the SPY is at a price level with lots of previous trading volume (indicated by the blue graph on the right.) I would consider it a potential pivot point - either higher or lower. I think we may see a little bounce early in the week, hopefully followed by another larger downleg to create an oversold condition that will signal a solid entry point.