the downtrend will continue..

yes, the downtrend will continue. Yesterday, we said that the market was oversold and that it might be up for a few days. Today's rally did not change anything. It did relieve the oversold condition a bit. The market may be up again tomorrow but it will soon resume the downtrend, The benefit of being an intermediate term trader is that you do not have to react to every move of the market. Today the short term traders were in a state of panic and many lost money. You should be in cash or be short the market. This market has a long way to go down. The news today was not good but CNBC did everything to give it a positive spin. Beware of the media. The media is not your friend. But, is it possible that we are really in a bull market? Yes, it is possible but the dow would have to go above 14000, if it's a bull market. Today it is around 10400. Stay the course and be patient. Right now the market is bearish.