Buying Opportunity Soon?

The extension to the downside has come to fruition in the form of a nice washout. Some indications are beginning to show a buying opportunity is around the corner. Look for negative pressure into the holiday with some relief to the upside after. As a contrarian view notice how Sentiment is becoming very bullish as the lack of bulls are being pushed out of the market.

082713 sentiment

The weekly summation index is also putting in a + divergence.

082713 nysi

 

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