Well, the debate between the two sides – – that is, “we have not seen the low yet” (TIM) “this is the bottom and we will go higher for the rest of the year” (EVERYONE ELSE) has another ally on the latter side, who is none other than CNBC’s own Jim Cramer:
Hey, I could be wrong. I’ve only been wrong a few thousand other times in my life, and this could be another. We shall see. After all, looking at the NQ over the past few weeks, one could put in an argument that the low was made October 11, and we’ve just made a higher low (see trendline):
It’s really all up to earnings at this point (chopped-up journalists notwithstanding). You saw what can of damage MMM and CAT can do to a market yesterday. There are thousands of reports yet to go, a few dozen of which are absolutely crucial.
Oh, and speaking of earnings, there’s yet another big improvement coming to Slope this week which I’ll let you know about once it’s live. Here’s a tiny sneak peek:
