1/16/08
All US stock indexs are closed below bar today. Since New Year, the stock market is keep going downward with no looking back. Bear is totally in control and Recession is expected. Fundamentally, Negative Consumer Spending growth, unemployment rates rising, the Fed is behind the curve are all recipe for a recession. Technically, all stock indexs barely trading above the 3/2007 lows. I would expect Dow would trade down to 12000 soon. Also, banking index are still trending downward and has broken the 16years long bullish trendline. VIX index are still not showing any extreme, so no sounding bottom is close yet.
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