| Weekly Trend: | Down | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Up |
Todays weakness has warranted a supplementary review of the XJO patterns which we’ll take a quick look at tonight in the chart research area. It doesn’t invalidate our bounce theory but its certainly testing it. I’ve stated before that this market is totally random on any given day, even if the trend is down. The US can rise by 200-pts or fall by 200-pts. Toss the coin and take a pick. This is why I continue to suggest we stand aside and allow this volatility subside. Today produced a few interesting Type-A Bullish Divergence setups. if you’re interested take a look at OKN, SAI and SMX. Note that these are all low liquidity stocks and therefore don’t make our grade – but they’re solid setups.
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