The point of recognition comes at different times for different markets. Europe was the first to realize that it was in trouble and it was the market that was the weakest up till early May. Now it is an outperformer. Next came the Hong Kong/H-shares China market which caved in and formed a bottom. Along with the Hong Kong/H-shares China bottom came the bottom in crude oil. Now the last stalwart of this bull market from March 2009, the US market, is falling on its knees. It has yet to bottom. But from the action in the overseas markets, it is only a matter of time before it does. I don't see a big bad bear market. The correction is almost over.
I am waiting to get long, waiting for that one final push lower which I think we'll get today.
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
I was hoping for a gap down and continued selling in the morning. But all night, the futures were very positive. Thanks to the lousy ADP employment report, those futures are now flat.
Post a Comment