The bears pitched a shutout last week, going 5-for-5 as the market continued its slide. New correction lows were reached in each of the major averages, reminding us all of the struggle this market is having to stabilize.
Support zones have been broken, and trends remain down, but with deeply oversold conditions having emerged, a bounce is becoming something to be on the lookout for. When it arrives and how long it will last are unknowns right now, but suffice it to say the easy money has quite likely already been made on the short side for this particular wave of the decline.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
This clip was also posted over on the Trading Videos  site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.
Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.
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