Friday, March 7, 2008

Markets at LT supports

Bear market: Breaking the current supports is shouting loud that we are in bear market.

Party is over, turn out the lights.... Actually party debate will be just starting while bears are partying hard.

Bradley using the presidential year psychology made the turn dates in Jun, i.e. visually at least, but it is not going to be another mid year 2004 reversal which will change consumer sentiment after being in bad bear market for the next 3 months which will take us down to the next major support SPX 1170 +/-. In order to negate the sentiment, we need to see a market support at the current level.

Markets are oversold at the current level. Breaking the current level will take us to SPX 1170 +/-.

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