The stock market has continued to move lower and the selling has been brutal. But will the markets finally get a bounce of some kind? My opinion is yes for the short term and maybe we even put together several days or weeks of rallys. Every bear market at some point does have a rally or at least a dead cat bounce in the short term. I suspect many participants have cash waiting on the sidelines and will want to put that to use soon. I would be prepared for big moves to the upside just like we saw going down. The overall trend is still bearish, but i do expect a short term bottom might not be far off.
The currency market has also been making some spactacular moves with the Yen strengthening and then giving up those gains to the USD. It seems the dollar has bounced too much here and overall i would be a seller here on strength. Gold is holding up better now and i suspect it will aim for 1700 or higher in the near future. I'm not fond of Bitcoin, but technically it even it looks like it's ready to aim higher in the short term.
Only time will tell if we do bounce higher for a bit or if lower lows are in the cards. In the short term I'm prepared to catch the move if and when the technical/macro picture improves.