OH NOO Mr Bill ... is the stock market sky falling?

WHAT GOES UP ... 

Sometimes its best to take a step back when the markets are falling some -400 and -500 points a day.

If we do that we see that the DOW is STILL in a very BULLISH UP trend and we've some good points of support.

Recently the DOW hasn't been able to break thru resistance near that 27,000 number like it did back in October ... it tried twice in late April but just couldn't get there.

When that happens ... ANY bad news will cause Wall Street to snap ... and with Monday mornings China news they did just that ... taking profits in a big way.

Now, what does this mean? ... I feel that with Friday's positive employment numbers and with the Fed backing off raising interest rates ... its more BUY than SELL.

If I had to guess ... this pullback will fall to recent support near that 25,600 ... which means we could see another -400 points being trimmed off.

I'm a BUYER at that DOW 25,600 number (although I've already bought into this sell off a bit early ... oh well, we'll sit and watch, still have good dry powder :)

Remember, Wall Street BUYS them Up to SELL them Off to then BUY BUY them Up again ... its what they do and if you believe that like I do ... days like these can be business as usual.

Good luck, keep it non emotional and make good decisions cause I don't have a crystal ball  :)