Hello SpikeTraders,Markets hit weekly resistance on Thursday and reversed and sold off, never looking back and closing near the week's lows. The Dow Jones INdustrials closed down nearly 1000 points on Friday alone. All three major indexes fell more than 2% on Friday after some whipsaw moves caused by surprise earnings news. As more economic data increased the certainty that aggressive near-term interest rates would be rising, markets began to falter. There was one key piece of data that you always hear me repeatedly comment on when markets are trying to find a bottom, and for a new trend to form, new monthly Lows must fall below 500 and remain below 500. Let's look at the charts...