Market Bounce

After the Nasdaq Composite Index hit it's 200 Day Moving Average, representing a 10% decline and a valid
market correction, the market bounced nicely. While this bounce may last a couple days, it is not confirmation that the short term down-trend is over.

(Click on Chart for Easier Viewing)

Nasdaq Composite Index

Has a Nasdaq botton been put in at the 200 DMA?
We won't know until until there is evidence of a trend change.

I will probably add to our position in energy, which has been outperforming lately.

This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.