Category: General Market NewsSort
The financial press is beating its "depression" drums just a bit harder this afternoon in the wake of Congress' surprise rejection of its bailout legislation and the market's strong drop. However, we remain skeptical that this behemoth bill would indeed be the market's short term salvation.
Why We Are about to See a Major Bounce in US Stocks
THIS WEEK’S ISSUE:
* In-Play: $700 Billion Bailout – Deal Reached!
* In-Play: Short-Sellers Report Holdings
* In-Play: Citigroup (C) & Wells Fargo (WFC) Bid for Wachovia (WB)
* Market Commentary: DJIA, S&P 500
* Update: CBOE Volatility Index (VIX)
* Update: NYSE & NASDAQ Hew Highs-New Lows Index (NYHL, NAHL)
* This Week’s Economic & Earnings Reports
The DOW JONES is contained within two down trending Trend Lines and today these two trend lines are at the 12250 points for the top line and between 10500 and 10250 points for the bottom line.
Markets always follow lines of least resistance and therefore not one person or Company or Government can force the markets to go places it doesn't want to go.