What to expect? Is a bounce due, or more down side. We are a great fan of NYSE market statistics, so lets review the McClellan Osc (Ratio adj) for clues.
The Osc is hitting -100, in most cases the selling is near done (expect for the double wiggles seen in the yellow circles). One should watch for a nice A-B-C to form to confirm this pullback is done. Members should review RTT Market Timer as well, if this is a standard sell off we could be done, if it is a nasty OMG sell off then ouuch. The OMG sell off is the next sell off, this could be a head fake, or bear trap. Mr Markets does tend to con folk. You know 'Sell in May', just like the last three years. Wait and see.
NOTE: OMG = Oh my god (for non texting folk)
NYSE chart..
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