A wild week in the equity markets would be putting it mildly, but behind what seemed to be chaos and lack of order, there emerged a bottom.
I do not think this will be a V bottom however and quite honestly I think most of the initial thrust off the lows was completed on Friday. There may be some slight follow through on Monday and actually that would be very healthy, but I really think that this week is going to be a very volatile week.
Take a look at the short term equity model forecast for what the week might hold in the cards.
This model is only a guide and should be used as such, but it has been very good to me lately and I have no reason to doubt it.
Until we hash out this entire bottoming process I am going to keep my intermediate term outlook as Neutral. Long Term will remain Bullish and Short Term as of now is leaning towards bearish.
This bottoming process should give us all plenty of time to slowly remove our hedged equity positions and begin to start the selective process of what to purchase next, as I really do think that once this bottoming process is in the next leg up could be a barn burner!
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