5 Down Days! What's Next?
However, this may be a good thing... the last few times the market was down 5 consecutive days... 01/06/15, 09/19/13, 12/21/12, 09/20/12, 07/05/12, 05/11/12, 04/03/12, 11/16/11, the 6th or 7th day would turn out to be a positive day, mostly on the 6th day and occasionally on the 7th day. This means a high probability intraday trading opportunity (but which exact option to buy? Join my Master's Stock Options Picks Service ) tomorrow!
So, what does this mean going forward?
There is really little correlation between 5 down days and the market going weeks forward. So, its back down to what the general market is doing once this oversold one day rally is over. It could go higher, it could go lower and my bet would still be lower with what the Feds might cook up on Wednesday. The domino effect from China and a rate hike at this moment may be the exact catalyst needed to quicken and / or justify the market crash that we all had our eyes on for so long.
Market Crash Timer: YELLOW
For now, the US market turns a short term bear trend within an intermediate neutral trend and a primary bull trend.