This days major indexes move says that weekly down wave is still intact. I follow simple investment philosophy which was
disclosed by William O’Neil in his book “How to make money in stocks”. He said that “The hard-to accept great paradox in the stock market is that what seems too high and risky to the majority usually goes higher and what seems low and cheap usually goes lower”.
Let’s take a look on SnP and NASDAQ. Two days ago they proved weekly down trend and let me expect to touch new downward levels (labeled as “A” on pictures). I advise do not try to buy falling markets until they show significant sign of turning points even if they will touch marked levels. For me the only reason to believe that turning point occur is obvious pattern when asset gets an oversold position and shows proven by major markets operators interest to buy.
