Where is The Bottom To This Market??
Oct 10, 2008 Stock Market News, Technical Analysis
WIth 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 :
