MDR update - market update

The daily MDR chart shows what we were waiting for a test of the lows, even slightly lower lows as the daily counts were not complete. Although it came with a earnings disaster, which makes it a lesser cheap stock. I still stick to the basic theme - it's an interesting stock as it drops to 10/11 our target. There is no reason to rush as even a dip below 10 is possible. We will update our stocks on the radar as the broader market makes its lows, which is still a bit away.

Volume has picked up a bit but not anywhere near a capitulation level. Markets lost close to 10% in 2 days as too many smart bulls were around - it's rare to see troughs being called by so many and not at those levels anyway. The SPX is getting close to the mandatory low of 900, but we will go lower anyway as at least the SEQ counts should be activated around the support of the bigger triangle at 850/60. The VIX is already back to 64 and the 70 is a good level to reach.