Sunday, November 1, 2009

Bear Flags Everywhere!

The markets have broken down HARD this week. We have clearly topped out and a much deeper correction in time and price is well underway. I still expect the markets heading lower even amid "oversold" conditions. We might see bounces via early morning strength but if my analysis of bear market behavior is correct then these bounces should be short lived and we could see sloppy and choppy rallies meanwhile stocks get sold off hard and fast into the close. Early strength followed by late day weakness is a typical character of a bear market. I will be looking for that this week and for the lower prices in due time.

1 comment:

ANON said...

Glad I was seeing the same thing. Love your analysis. Take care.

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