Recap New low on Monday confirmed the bearish scenario of 8 waves down to come. The 3 sell waves down completed by Friday.
Outlook Again, if we get a bottom formation on Monday, the selloff is over. If it fails to snap out of that, we get 5 more sell wave within a week.
This week due to the S&P downgrade, potential Fed and G8 inventions will throw all markets into chaos. See this and the related articles as the situation develops over the weekend.
Dow 30 Aug 08 to Aug 12 Outlook
Lawrence’s Comment
New low on Monday confirmed the bearish scenario of 8 waves down to come. The 3 sell waves down completed by Friday.
Outlook
Again, if we get a bottom formation on Monday, the selloff is over. If it fails to snap out of that, we get 5 more sell wave within a week.
This week due to the S&P downgrade, potential Fed and G8 inventions will throw all markets into chaos. See this and the related articles as the situation develops over the weekend.
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