From now on I am going to monitor the market along the direction of major wave C of the mega wave 6 as shown above until I am proven wrong. Any rebound is likely to be technical in nature to the oversold market condition.
Dow managed to recoup 207 points from its low of 11,648 to closed at 11,855, losing only 138 points.
I am looking for a closing price of below 11,8oo to confirm a breakout on the down side. The intraday low of 11,648 may provide a temporary short term support for the Dow.
This call by Alan Greenspan, should be bearish for the market.Oh My God !!!!
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