Friday ended a horrible week for the market, and was significant in that the Dow is close to confirming what most traders already knew: We are in a bear market. The Dow is just .1% away from a 20% decline from its record high in October 2007, which would confirm a bear market. This weekly […]
What a slaughter today in the market. The Dow put in its lowest close of the year, and has moved significantly lower since forming a double top in May.
As mentioned here last night, the NASDAQ wasn’t likely to have a good day today, and it fared the worst, down -3.33%. Disappointing RIMM earnings had a […]
The Fed didn’t make any changes to the interest rate as expected, but was less hawkish on inflation in their report today. The market was expecting more emphasis on future rate hikes to fight inflation, which probably would have strengthened the dollar, lowering oil and perhaps causing a rally in the market. Instead, the market […]
