Small Bounce Would Be Ideal…
…that would allow us to establish a short position on the indexes. Friday's decline closed the gap from last week and given that the markets sold off into the close we could get a little gap down on Monday. Ultimately the markets move will be determined by the European vote on Sunday night so any analysis done over the weekend will be completely useless as the markets will be volatile
The Nasdaq Advance decline line is suggesting new lows on the markets are coming. When the -DI on the ADX breaks out to new highs then it will confirm the bear move and the market will really accelerate the move lower.
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