Thursday, July 01, 2010

SNOOZER

Continuing claims this AM, no drama here. Only 2% plus stocks are running ABOVE their 10 day moving average. On many measures stocks have reached oversold levels that should produce a rally of some kind. Only the production of several 90% UPSIDE volume days on EXPNADING volume would change the general direction of the markets.

WHERE IS THE SUMMER RALLY? Oh it may come, but lots of technical damage has been done. Are there REAL data points that shows world economies can get off the canvas?

It will take more than me going out and buying a new camera..... ARE we in YEAR TEN of a 16 year or so SECULAR BEAR MKT? sorry to say odds favor that, stocks are BELOW levels last seen in 2000 some 10 years ago...

D

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