Stocks got hit hard as oil spiked over $140 and the gold found a serious bid to the upside.
Stocks may head a bit lower here, but they are due for some sort of a bounce, which could occur any day now. Depending on the character of the bounce, it's likely that it should be used as a selling opportunity.
We have a huge list of stocks on our shorting watch list that we are looking to enter under the right circumstances.
The SPY is likely doomed to take out $125 eventually and this bear market is likely to head much lower as the Fed finds itself stuck between a rock and a hard place.
Strangely enough, sentiment didn't budge on Friday even as stocks washed out throughout the week. Without fear there is just no way this market is going to offer a tradable bounce. It's likely we will see a waterfall-like decline before fear actually spikes enough to create another buying opportunity.
This market is setting up for a trader's paradise.

Juxtapose the 50-week average and B Band price today against recent reports. You will notice that the 50-week is turning lower and the lower B Band is spreading out to lower prices. This is a strong weekly sell signal. Again though, this market is due for some type of bounce before prices head significantly lower.
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