Thursday, October 26, 2023

A Bottom?

As of 11 AM, the numbers are looking good. Volume is down, compared to yesterday’s low, and market internals are markedly improved.  If those are true at the close, it strongly suggests a bottom today, or very soon. 

 On the other hand, internals look so good that the S&P 500 might reverse higher and close in positive territory Thursday.  If so, that would leave me without a retest of the low and less confidence that the bottom is in.

Either way, unless there is a change in the numbers as the day goes forward, and that could always happen, I don’t plan to make a change to investments.