Market Direction: BEARISH alert issued 10/25/2012
The market continued to demonstrate considerable weakness resulting in declines across all indices for the past week. It appears continued concerns about the looming "fiscal cliff" and concerns that Congress may not reach an agreement regarding the pending spending cuts and tax increases slated to take effect in early 2013. Further exacerbating the looming "fiscal cliff" are remaining earnings announcements that are anticipated not to be very good.
Economic reports this week include: Retail sales and PPI (11/14) and Initial claims and CPI (11/15).
Economic reports this week include: Retail sales and PPI (11/14) and Initial claims and CPI (11/15).
$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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