Written by David Neubert
I have been watching CNBC and searching around the web for sentiment indicators.
CNBC's Trillion Dollar Opinion Polls had 0% claiming that this was the start of a bear market.
The DealBreaker Poll came out at 50/50. Motley Fool investors are bullish.
I found that, when people couldn't understand why the market was falling, it would cease to fall. When the market was falling for explainable reasons, it would continue to fall. That was usually the bottom.
So for now, I'm waiting and seeing. Am I short in my futures account? No. I want to wait to see how strong the Friday closing turnaround is - and how strong the Monday open looks. A strong close today is actually negative. It means speculators are covering. If serious buyers come, they will come Monday morning.