Here’s What The Market Must Do Now…
Let me be brief and let
me be blunt. If the market is going to bounce. If
the market is going to attempt a rally. If the market is going to show any
type of strength, it had better start here. I say this for one simple reason:
the DOW and S&P 500 are at the goal line again. Yes, it is time for another
goal-line stand.
me be blunt. If the market is going to bounce. If
the market is going to attempt a rally. If the market is going to show any
type of strength, it had better start here. I say this for one simple reason:
the DOW and S&P 500 are at the goal line again. Yes, it is time for another
goal-line stand.
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The DOW has short term support right here at
10,162.
10,162.
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The S&P 500 has support right here at 1106.
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A break below these levels will enable these major
indices to join the NASDAQ party. The NASDAQ recently broke its short term
support at 1960 and is working its way down to May support.
indices to join the NASDAQ party. The NASDAQ recently broke its short term
support at 1960 and is working its way down to May support.
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I suspect there is going to be an attempt to hold
near-term. The market, just on price, is oversold here. The question remains
if that would just be putting off the inevitable. Nevertheless, even if the
market decides to bounce here, continue to go slow as there continues to be a
total lack of any leadership in this market .Â
near-term. The market, just on price, is oversold here. The question remains
if that would just be putting off the inevitable. Nevertheless, even if the
market decides to bounce here, continue to go slow as there continues to be a
total lack of any leadership in this market .Â
Gary Kaltbaum
P.S. Here’s a
conference call I
did on Thursday.
P.S. Order my new Interactive CD-ROM today and save $50.
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