By John Pisanchik

This week ended decisively down. The market internals deteriorated each day and the indicators are all pointing down. At this point you should be positioned to take advantage of a down market. The short term objective is the 845 to 850 level. On an intermediate basis, we could get to the 750 level. A lot of damage can occur to individual issues in an environment like that, which is why I am saying that you need to be positioned for it.

I would expect that next week will bring more momentum to the downside and some exceleration to the downward progress. Happy Weekend, and Happy Trading.

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