Market Direction: BEARISH alert issued 10/25/2012
As blogger/followers should be aware, an ALERT advising of a change in market posture was given on Thursday, October 25. At this point, we are in a bearish posture. Much of the negative down move we have seen in the market has been driven by less than sterling earnings. However, there have been a few positive announcements, but earnings have been mostly negative. In addition to mostly negative earnings, there has been renewed concern regarding the economy in Europe and China which are also weighing heavily on US Markets.
Economic reports this week include: Personal income (10/29), Consumer confidence (10/30), Initial Claims (11/1) and Non-farm payroll and unemployment rate (11/2).
Economic reports this week include: Personal income (10/29), Consumer confidence (10/30), Initial Claims (11/1) and Non-farm payroll and unemployment rate (11/2).
$tockMarketDirection maintains a Bearish Posture. We encourage followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current bearish posture. Cha-ching.
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