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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (6385)	6/29/2010 2:32:11 PM
From: fred woodall	1 Recommendation Read Replies (1) \| Respond to of 222699

Consumer Confidence dropped a whopping 10 points. FNM going to cost taxpayers $1 trillion, compliments of Barney Frank and Chris Dodd. We have Russians spies in our mist, bunch of boats parked near Iran and a commander in chief who isn’t looking to presidential. Then there is Europe, Hole in the gulf and a new 2000 page fin. reform bill that only two people in the country bothered to read. Positive note crude continues to tank so the consumer can afford to drive to the unemployment office.

To: Real Man who wrote (6385)	6/29/2010 2:34:34 PM
From: GROUND ZERO™	Respond to of 222699

Good question... all I know is that we may have a confirmed sell signal today, and if so then I would have to believe this market has not yet seen the lows... certainly, the news people are clueless, they'll just report something, anything, to explain why the market dropped, but I think I can tell you in technical terms much more accurately than that, e.g., when the market traded below 1062.50 this morning, it broke the up trend and began a new down trend, it's probably nothing more complicated than that, the selling over the last few days was no longer a "pull back" in an up trend, but has become the beginning of a legitimate down trend... for weeks already, this market has been unable to get out of its own way to stage any sort of rally, I was waiting for the sell signal, I figured it will be a big one, and so far it has not disappointed me... if it can't rally in an up trend, then what kind of rally can we expect in a down trend...<g> GZ