10 August 2011

SP 500 and NDX Futures Daily Charts



It is going to take a selling capitulation with the DJIA down over 1000 points intraday, or some sort of government announcement or action to turn this market around.

It does seem to be trying to find some footing on the chart here, but lately that just means a pause before we see another downdraft.

Markets like this are deadly for bottom-pickers. Be careful. Rough waters, matey.