I don't see a major sustainable rally on the near-term horizon to rescue beaten up investors.
Here's my game plan, with Apple's earnings on Thursday likely to determine the market's next major move.
Remember that this is a traders' market more than an investors' market. That's how it'll be until we have a change in trend and confirming follow through.
With so much uncertainty with near-term problems, it's nice to be able to have a built-in margin of safety.
Let's take a look at my Oscillator, two other indicators and the TLT to see where the market is in terms of oversold readings.
We might as well scare out the few bulls that are left.
Things could get nasty.
An unsettling secondary offering is reminiscent of Peloton's in the wake of its dramatic fall from the highs.
I'm thinking this may be a time when the old K.I.S.S. principle comes into play.
And we probably need to go lower before we can go higher.