The market has been smashed, down 16%. But has it stopped. Wyckoff fans need
a base to see some sort of accumulation to prove that some buying is going
on. But not yet. The sell off needs a few months to heal and prove that strong
support has been secured.
Wall Street wants QE3 to push up asset prices. They also know they wont get
it until a few politicians are scared sh*tless. So I suspect the market will
be sold down to SPY 100 and then wait for the screaming to start. Sept and
Oct 2011 will be very interesting.
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