Where is The Bottom To This Market??
October 10th, 2008 by Cameron FousWIth todays uplift of the short ban the dow plummeted another 678 points on continued fear and a huge downfall of financial stocks with heavy short pressure. The 31% drop in GM to its 58 year low has also weighed on the stock market.
Technically there is a a huge amount of bearish momentum with no stabilization in plane sight as the markets keep getting get slammed. From this point where we are are right now i won’t be surprised to see the DOW continue to Free fall until the next support level which is in the range of 7200 - 7800 wheres its very possible we could see some stabilization and a strong rebound in the market at least in the short term. Long term no one knows and im certainly no economists trying to predict the future. Just a short term trader who follows short term momentum. C’yall Friday.
Technical Analysis :
