Panic selling

Panic selling on equity markets mean a quick and hard fall towards 1140-1150 (first support) or even towards 1040-1050 for the SP500.
Wave C is often devastating and is typically at least as large as wave A and often extends to 1.382 or even 1.618 times wave A .
The good news is that October could provide a good entry point for equities.

Buy&sell signals DJ Euro Stoxx50

"click on the table to enlarge"

Stoxx sectors rankings

The table below is a ranking system based on a 6 months rate of change (roc) divided by volatility for the Stoxx sectors.

The second one is more sensitive and only composed of different rates of change.

Time to be optimistic?

While most US strategists are bearish, please find here one contrarian opinion (bullish report for equities) http://www.pring.com/pdfs/ptgletter.pdf