I am not sure if the 7552 is the 'new' bottom or if there is another push down to the 7200 marker... the former is right in the middle of the range we talked about on 11-20 but with the president elect saying that millions of jobs are at risk next year and the IMF Chief saying the worst is yet to come... does that give enough negativity to traders and fund managers to dump stocks next week?
If it does then we will have the capitulation needed for a counter trend push... which the EW dudes say will be a multi-week or possibly multi-month counter trend push to the upside... it will not be a TREND change but a counter trend push... the over all trend is still down and will be for years. we will see new 52 week highs but no NEW multi-year highs...
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Comments for "Dow lost 5.8% for the week"
December, 2007
