WOW!!! Not too long ago, we mentioned in the article here.  We did not expect it to happen so early. 

We mentioned earlier “it is not such a wild idea in the current environment as we are only 12% from the 200 weekly average”

We are so oversold now that any good news is likely to bring the market up almost 6-7%  or more like a spring.

Momemtum indicators show that the market is really oversold currenly.

We are likely to fall another 2-3% to check the 200 week average. This should hold a substantial support to the market. We don’t think we will breach this support but forecasting is a dangerous game in this market.

We are expecting a good rally up at this suppport level. Way up will be full of challenges as well. Trend currently is that the rallies need to be sold. Unless, we break that mindset, we are likely to continue to fall and test and retest the average.

KEEP CHECKING US OUT AS WE KEEP UPDATING HERE WITH NEW POSTS/ IDEAS TO UPDATE ON THE MARKET TRENDS.