I put up this 1994 chart a couple of times in the past couple of months comparing it with this year's action. I was hoping the comparison wouldn't play out but we are about halfway through that waterfall-like decline. The good news is if we do continue to follow it, we are just days away from a bottom. The bad news is the bottom is still a long way down.
Charts provided courtesy of www.decisionpoint.com
More good news; After the closing bell yesterday, Texas Instruments posted a solid earnings report which could resurrect a sick semiconductor index. That would be music to a stock market starving for a leader to emerge.
I'll make these comments short tonight since yesterday's action didn't do much to change the outlook. The bleeding stopped but there wasn't much excitement. Let's see if today will change that.
That's all for today. Currently 60% C, 40% S fund. See you tomorrow.
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