Severe Weather WARNING

Yes, this is a severe weather warning, not a watch. That means severe weather has actually been sighted.

I remain very concerned here. The numbers were as negative as ever today and yet we still continued down. As I said in an earlier post, when the majority is winning, you are generally getting near a high or low. In this case, the majority is definitely on the down side and yet they're winning. Unfortunately, this is looking to be a very, very important low we're searching for. In which case, I think the Nasdaq 100 numbers have to go negative before we see the final low of this move down. The Nasdaq numbers for the past week and today:

Last week Monday: 126.92 positive/73.94 negative = 1.72

Last week Tuesday: 133.57/78.83 = 1.69

Last week Wednesday: 131.45/84.90 = 1.55

Last week Thursday: 114.93/96.88 = 1.19 (wow ... extremely low)

Last week Friday: 121.44/91.94 = 1.32

Today: 115.48/98.74 = 1.17

So again, wow, extremely low final number today, but we still went down. Although we're within shouting distance of going negative, I'm afraid this could take two or three weeks to get down into negative territory and stay there for a couple days. Or maybe I'm wrong in thinking this is a powerful move down that will keep going down until the Nasdaq 100 numbers go negative. With this low of a Nasdaq 100 number, and with the Dow, S&P and Russell also extremely, extremely negative, there is plenty of gas to blast upwards. (But why didn't it happen the last few days?) We'll see what happens!

Rob