As I've been expecting for a number of trading days now, the market has hit fresh lows as the S&P 500 dropped another 0.97% to close at 1300.16. We have to go back to March 23rd for a lower close on the S&P, a day where it closed at 1297.54. Today's close puts the S&P right at my target area for a possible low, but I'm not so sure we have actually put in a low yet.
Just a few days ago it seemed like the market was cheering bad news as I posted in a recent blog. Now the market seems
Can a tired market give us one more push? - Not much of a rebound yesterday after Wednesday's 280-point sell-off, but despite the 42-point loss in the Dow, we did see an intraday reversal off of the lows, and most of the broader indices closed near the break-even mark... Current Daily Market Commentary Market Commentary for 6/03/11
TSP Talk Sentiment Survey results for the weekof 06/06/11- 06/10/11 Buy: The TSP Talk Sentiment Survey came in at 31% bulls,56% bears, for a bulls to bears ratio of 0.55 to 1. That is a fresh buy signalreading so the system's allocation remains 100% S-Fund the week of 06/06/11-06/10/11. Bull market rules are in affect since 9/27/10: See latest survey results To discuss or comment on the Sentiment Survey, go to Sentiment Survey Talk
Inverse H&S W4500 Hourly Projected PO 750 on 13 June, any takers?
The bulls were unable to mount much of an answer to yesterday's market rout. The major averages finished mixed overall with the Nasdaq up 0.2%, while the S&P 500 dropped 0.1%.
Earlier in the day it looked as though a catalyst was forming that had the potential to drag the market down significantly as financials were getting hit hard. They eventually reversed early losses and finished the day higher by 0.2%, but what got the market's attention was that Goldman Sachs had been served
Updated 06-03-2011 at 05:27 AM by coolhand (Added BPCOMPQ chart)