Markets rallied back but may have put in a lower high - we'll probably know by close on Friday. We opened a position in EWJ (Japan) today which I will talk about on the Thursday video. Meanwhile I wanted to share two charts I have been watching. The LOG chart of the S&P500 from the 2007 peak. Look at how the downward trendline runs through the area we are now. The other is the rising bearish wedge in the S&P ETF SPY, an Index ETF, that has been developing since early July. Come back for the video blog tomorrow.
Long term chart showing declining trend line
Disclosure: Long EWJ, Long SH