Not only do we get oversold at 4500 but we get a VERY important indicator on Friday. The "Double Bottom at 4500" Si instead of capitulation the market sends the signal that it has held and the Bulls rush in with Massive BUY PROGRAMS. Next stop is a break over the 50 sma coming.
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So we move into buying at the bottom of the down trend and then selling the bounce when the S&P hits the 50 sma that Blue line. We Only play for oversold bounces until it breaks over the 10 sma then it becomes a hold long trade. twitter.com/MasterBJones/s…