Today's Action

[Dave at NextDay]

Quote from Dave at NextDay:

My hi/low targets aren't worth a hellovalot in this environment. My strength number has ranged only to the +40% level on the high side and has hit into the -90% at that 10:30 ET dive; still too indecisive. I notice that most of the range since that time has been trading squarely around the low 114 low target. If you're right on the 1120, particularly finishing on an up move to the closing half hour, that would at least be encouraging. We'll see.

Encouraging in that it at least ends the day above the low target level, but still a sad statement for the day.

 

[Petsamo]

Quote from Petsamo:

Where the DAX closes, the US will close also, to some extent. Of course, my strategy sometimes doesn't work.

This is a real bummer. We really are following what the German DAX is doing. Currently, the DAX is sitting 7.3% below its high. The SPX is sitting 7.6% below its high. So, the Europeans need to stop dropping before we will stop.