Follow the chart!
Just remember the FED is buying things on the cheap so they can themselves profit when markets recover. So do you really think they will buy here right now today or do you think they will wait for everything to completely crash first? Anyway lets talk about the chart. We close below 50% fib retracement for the week. When you look at the bigger picture this recent rally has been going up on declining volume meaning retail investors are rushing in with hopes and dreams but I call this a bear market rally. We may just now complete wave 2 and heading down for wave 3 which will be very painful. All those retail investors who rushed in this week will get slaughter IMO.
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