What! You think that just because today and this week has gone sour that all is lost? All you need to look at is the Bullish supporting convergences on the $DJI chart and that alone would tell you to “GET IN THERE” and start buying the $DJI etf called DIA.

We are at trendline support, a fib support, and a horizontal trendline support, and the 34 EMA Wave support, all at the same time; so, this tell traders to “GET IN THERE” and buy DIA, SPY. These charts both look the same. The only thing is the $COMP or NASDAQ. The NASDAQ has not even touched down to the 34 EMA H/L/C WAVE yet. So, one scenario that can happen is that $SPX and $DJI will be flat next week as it gives time for the $COMP/NASDAQ to touch down and retrace a little bit more; on the other hand, next week $SPX and $DJI and $COMP could all rally.

TLT Looks like it will make a Doji today to continue falling down completing a Head and Shoulders pattern. Also, individual stocks like CNP are holding up well and are flat at the Wave of Support as we mentioned a few days ago; ready to rally next week.

PEY, although the concept of this ETF sound fantastic and a good idea, I will watch it closely next week relative to the XLF etf to see whether or not I should drop it. I consistently makes lower lows while the market is makes higher highs, who wants that, although the dividend pay is good and it would take a year of holding it to recover. I totally believe the Financials are recovering, and that is why I am holding it for now.