If you follow the technical indicators, now is a very dangerous time for the market. The Dow broke its intermediate trendline on Friday and should now retest the lows made in March. It’s only about 100 points from there. If it breaks that, all hell will break loose. Of course we may get a little bounce here or there, but nothing meaningful. Seems like there’s been a huge change in sentiment in just the last 30 days, with professionals beginning to come to terms on the reality of our true financial condition, and jo6pac finally realizing that he’s been lied to from the government about inflation, housing, and the undeniable pain of $4 gas, soon to be $5. It would be nice if we could just take the rest of this year and next off and fast forward to 2010. It might be better then.
