Honing in on the Bounce Support Area

The markets are giving off some conflicting signals at this juncture.  This probably is good in that in the midst of confusion one can get an edge if a decisive position is taken.  Risk is a big factor because if the market doesn’t hold here, it will be in a lot of trouble.  But, anyway the 1320 area in the S&P 500 will be important for the next couple of days.  So being a buyer here should be the way to approach the  situation. 

As I have mentioned in the main site, John Mauldin’s letters and what he terms “Outside the Box letters” written by others are important reading materials in this market.  This weeks outside letter by Dr. Woody Brock is especially timely.  If  you haven’t become a subscriber go to     frontlinethoughts.com   .

10:40 PM CDT