The W pattern has done it again. The similar price action from last summer and early fall are playing out all over again in 2016.
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When stocks hit their lows a few weeks ago I said the market had it 'A' bottom ,but it was not 'the' bottom.
Since then prices have ripped higher altering the extreme bearish sentiment. Bearish sentiment at the time had reached the tipping point. A 5%+ rally for the stock market has righted the S.S. Deflation. It is not free to sail back into stormy waters
The market looks to open a little lower than is closed at yesterday. All things considered we the bias remains to the upside as the tremendously bearish skew from a few weeks ago continues to get worked off. If you missed the market outlook video here it is.