Market Direction: BEARISH alert issued 10/25/2012
The market continues to demonstrate significant weakness. The market was generally down last week but demonstrated a little bounce on Friday. Global fears of recession seems to be weighing on US markets. Additionally, concerns regarding the looming fiscal cliff continue to dominate the news as well. In spite of looming concerns, recent developments are encouraging as the President and members of Congress vow to move quickly to avert the pending fiscal crisis that has contributed to the jittery market conditions.
Economic reports this week include: Existing home sales (11/19), home starts and building permits (11/20) and Initial claims (11/21).
$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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