Lower Lows for S&P 500 SPDRS, Says Market Timer Frank Kollar
The question is how low can we go? There is no long term bottom in sight. Much lower lows may be ahead. But there are two short term support levels that could result in anything from a pause in the downside, to a bounce, to a bottom for the bear market.
The first is just below Tuesday's close at $69.20. The next and most likely to result in at least a bounce is at $62.41. Watch $62.41 for a tradable bounce.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in the S&P 500 SPDRS.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
Kollar's research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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