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b"Wednesday Reversal Day
\\nOn my Wednesday podcast, I talked about Wednesday reversal day, where we gapped way down and then rallied and closed up.\\xa0 It was a strong outside reversal day. I thought this could be the beginning of a correction.\\xa0 The correction meaning a rise in a bear market.\\xa0 Everybody thinks we're in a correction now of a bull market, but I think the bull market is over and a rise is the correction.
\\nThree Consecutive Up Days
\\nSo I thought maybe we'll get one based on that reversal day, and we did.\\xa0 For one day. The market was up on Thursday; I think the Dow was up better than 200 points, so we did have some follow through to Tuesday and Wednesday's gains.\\xa0 We had 3 consecutive up days.\\xa0 Remember we had a big down day on Monday, but then we had those 3 up days.
\\nEnd of Bear Market Correction
\\nWell the whole correction came to an end today.\\xa0 The Dow at one point again was down better than 700 points; we didn't close that badly - we were down 572 points.\\xa0 Still, below 24,000; 23,932.\\xa0 This is only the second close below 24,000 this year, on a weekly basis.\\xa0 The last time was 2 weeks ago.\\xa0 The NASDAQ was down 161 points back below 7000 - 6915.
\\nDangerous Territory in Dow Transports
\\nDow Transports were also down big.\\xa0 They were down 307 points, just barely avoiding the Dow Theory sell signal.\\xa0 So we're not quite there.\\xa0 We can easily be there on Monday.\\xa0 If we have another down day on Monday, it seems that we're going to have a sell signal for the Dow Theory.
\\nPattern Developing
\\nThat seems to be the pattern: big down day Friday followed by a big down day Monday.\\xa0 Believe me the technicals on this market look awful.\\xa0 So there is certainly another chance that we have another big sell off on Monday. This entire bear market so far, we've had a pattern of a big sell off on Fridays and Mondays and sometimes we get a big down day, we don't get the follow through on Monday, but to me, this looks like it's all clear on the way down.
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