Sentiamo i Big che dicono ..

Commento di uno specialist sentiamo pure la sua voce........

Last week I said the index had to break the March low to set up a low. That is a high probability for fast moves and most markets broke their last significant lows. The S&P 500 did not break the March low due to the Fed dropping the discount rate by .5%. This doesn’t solve any credit problems since banks don’t go to the discount window. But it sure did change the psychology of the markets. This stock index is still vulnerable to a test of that low and even a marginal break of that low but most other indexes appear to have exhausted into lows. The index should be able to rally 12 trading days from the last low before the index is at risk of a move down or into the early September time window. Volume has not been impressive so a one or two day move down is possible within the next two days but the entire rally should go 12 trading days but we’ve seen a majority of the price movement. This low was short in time considering the percentage lost and three days short of my forecast. Sorry for that, a move by the Fed was inevitable I didn’t see it that early.