Wow......what an ugly day last Friday was. The Dow Jones was down 323 pts on heavy volume. The Trin closed the day at 14. I have never seen the Trin that high. My charts, my gut and the 2010 Bradley Model are telling me, we have much more downside to go. We may get a relief rally this coming week or a another crash. The 2010 Bradley Model says this downtrend will last until August 10, 2010. The next area of support for the Dow Jones this week is at 9550 and resistance is at 10,100. The Fed may try to intervene this week, but I don't know what more they can do. Adding more debt is like throwing gasoline on a burning fire. It will only make the situation worse!
