How Are We Looking For Tomorrow?

After today's big sell-off the big question is... are we there yet? Has the market bottomed? Are we ready to move back to new record highs?  Here are a few charts.

The market has been pulling back and we are nearing support.  $IWM today found it at $120 and like $QQQ earlier this year at $100, $IWM $120 was defended.

$SPY is nearing trendline support, and should see a short term bounce near term.  $DIA and $QQQ are in a similar boat.

We know this market can turn on a dime and what looks like a dramatic pull back is nothing more than another great buying opportunity.  Judging from the action on the VIX today, I think this is another buy-able pull back.  I'll let you know what I am doing in the chat room/twitter tomorrow.  Have a good night:





Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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