25 Questions to ask about the economic collapse
Perhaps, we have been discussing the very oversold conditions, todays 200 pt ramp down and subsequent recovery may bring the market some "near term" relief. IS this maybe the turn around the bulls have been hoping for and the "next upleg" is about to begin?
I don't know about next upleg just yet, today we have intra day NEW LOWS...and I could be wrong but new closing lows for the year.
10,200 next upside target. 10,259 is the flattening 200 EMA......which "may"now cause resistance, bt there is a lot of negativity to work off.
As the trend develops we will be better able to determine where it may lead us. For now this move wiwll come counter to the MA's which are declining on a short term to midterm basis (10-50 day) It will take a concerted effort to change trend, as the 50 DAY is on a b line to cross down the 200 EMA......but there is time.
Problems around the world increase chances for a 2011 relapse into Recession, and if so, the market will sniff that out.
D
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