Investor’s first read – Daily edge before the open
S&P 500: 1,883
Nasdaq Comp:4,379
Thursday: Jan. 282016 1:45 p.m.
In the tug-of-war between bulls and bears someone just blinked, and I think it was the bulls.
They have been buyers on dips and I think should have should have made a better showing today in this whipsaw market.
Something changed. While Nasdaq has been a laggard in the attempt to stabilize over the last two weeks, it is getting taken to the cleaners today, down some 2.9%.
The greenstick fracture I have referred to is nearing a full break.
A break below DJIA 15,870 (S&P 500: 1,870) would raise odds for another leg down, which could take the DJIA below 15,000 (S&P 500: 1,750) in a matter of weeks.
Today’s plunge is a huge test for the bulls. If these prices aren’t attractive, the market must drop to a level where they are attractive. The Bulls must ”bring it” here, or the message is bad news.
George Brooks
Investor’s first read
A Game-On Analysis, LLC publication
Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer. Neither Game-On Analysis, LLC, nor George Brooks is registered as an investment advisor. Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk.

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