After sinking in the morning the market rallied back to close near it's high on Friday. This is a positive. Additionally, our bottoming indicator, which we call a Bingo (grey colored vertical line), is telling us that the market may now bounce back for a few days. I will take some small equity positions for a short term hold. I will monitor them carefully as we are still in a downtrend.
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NASDAQ Composite Index
|The grey colored vertical stripes are our bottoming indicator at work. We call this indicator a "Bingo".|
The market may have put in a short term bottom.
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