Good morning All,

Here’s reprint worth reprinting from an update sent out a few days back:

Not holding the 200 SMA resulted in instantly strong selling.  Not holding the recent low could ratchet up the fear and create panic:

… a little more weakness could trigger even more fulfillment to the downside courtesy of the Rising Wedge measured move projection.

We went cautious and prudent some time ago and currently believe it is too early to abandon that status.

That was then, this is now:

As was to be expected, all bearish names for this week dropped at least somewhat if not more in yesterday’s pounding.  We will attempt to updates on levels out on those should the selling reenergize.

Thanks,

Wayne