Bounce or Die!

I believe we have seen the worst of the carnage, at least for the short-term. The % of stocks above their 20 day moving averages is at historically low levels, levels that almost always mean an intermediate term bottom is near. This metric closed last night below 15. Unfortunately, I can’t show you the graph because my damn computer shut down and re-started overnight, meaning all of my software has to be re-started and my scans re-run, which I do not have time to do this morning. So you’ll have to trust me. We are at levels where we bounce or die. My money is on a bounce.