The Bear is BACK
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| From WebSurfinMurf's Financial Blog |
The market has broken a Bull trend line and tight trading range with conviction Tuesday. I originally became skittish when on 5/10/09, when SPX hit an intra-day high of 930. As posted on Sunday, the market trading in a tight range, needed to close outside of 925-955, which was done today. This bull trend break took much longer than I expected to be broken, over a month later than my original nervous high.
I expect this bear trend to be horrible to hold onto. I don't expect this market to move in a straight line. As I posted earlier, I don't want the market to go down, it is just what I expect.
See the SPX below. As expected the US Treasury interest rates are retreating, as the market softens. This will give the government more elbowroom for deficit spending.
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| From WebSurfinMurf's Financial Blog |
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