I've noted in the daily updates for a while the build in negative sentiment levels and now the S&P has broken the uptrend line. It has also tested the consolidation zone from the T1 move and failed. I think the odds are now in favor of a continuation of the bear market. I do think the market is going to bounce into the end of the month but I suspect that is just going to allow the shorts in at a better level. I also have a feeling that when and if the market approaches the Mar. lows Bernanke is going to flood the market with even more liquidity and put a floor under the market.
5 weeks ago