Excerpt from Yahoo Finance quoting DataTrek‘s Nick Colas:
…. “Before investors get too excited about the potential new support level, they need to keep this week’s trading action in perspective. DataTrek Research co-founder Nicholas Colas has been following a trading playbook based on market action in late 2008.
Colas said in a Wednesday newsletter that his 2008 playbook has been working like a charm up to this point, and it suggests the market bottom may not yet be in”….
Read our full analysis here on Yahoo Finance!