Markets are certainly trying to pierce previous bear market low ..which is only 158.74 points away in Dow......
Stimulus bill was signed into law by President Obama...but markets were in their own depression.....closing almost @ lows of the day......
Advance decline ratio were 13.23 to 1 on NYSE & 5.36 to 1 in Nasdaq in favour of Decline...
New 52 wk lows were 221 in NYSE & 196 in Nasdaq... Healthy for a low low close???
There were 2 new 52 wk high in each index.....
Wednesday COULD be a turning point after testing Bear LOWS & finding SUPPORT???
VIX closed @ 48.66.....Fear seems to be contained even @ today's low close ????
Dow RSI @ 34.23....OVERSOLD???Lowest since Oct 27Th 2008???
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
To tell the truth, I'm not sure what to think at this point. The market seems perplexed also. Been down for some time now, would expect a rally sometime soon.
Best Regards
Hi Saleem,
My business saw a 20% increase in revenue last year. I thought it would continue, but not so. It has come to a screeching halt. December sales trailed off, now nothing for two months. One customer mentioned they wanted out of future commitments as soon as possible. Could be a really lean year. Upside down at the moment.
Scratching my head......hmmmmmm
Best Regards
Hi Standards,
We are all very troubled by this severe economic downtrend.It is affecting all of us in a big way.
Sorry to hear about your business scenario....try to hunker down..that is the only way we all can survive with dignity.
Best wishes in everything Stocks or business prospect.
Saleem
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