I entitled this forecast “How Quickly We Forget” for a reason. It’s been amazing watching the talking heads on CNBC, and the poor “public” who thought the 20% rally was a return to the good times. So sad, so sad indeed. So sad that hope causes people’s memories to fade so quickly.
For the first time in months, the markets have had not 1, not 2, but 3 consecutive up days. Everything must be better and we can get back to being bullish right? Nope. This weeks rally is perfectly indicative of a secondary move, counter trend rally, correction, or what ever mumbo jumbo you want to [...]
With the 8000 support level succumbing to downward pressure, the bottom targets for all 3 major indicies has to be revised downward. In my article "When Will the S&P 500 and Dow Jones Bear Market Hit Bottom?," I made the predication that the bottom would come around May, 2009. I made that prediction with the belief that [...]
In his article: 10 Bullish Charts, Signals, Indicators, Barry Ritholtz gives 10 compelling technical reasons why were are close to a market bottom. I completely agree with his assessment as I stated in my prediction for the market bottom, we are close.
With the markets tanking, many wise investors are wondering when and where will the bottom be put in so that they can return to investing. Before I give my forecast, let me start by saying that from a technical standpoint, we’ve seen these downard signals, levels and patterns reached before, just never this quickly.
