6/26/08
It is 10:30am central time here and the Dow has trading down 236 at 11580. Well, the stock market has finally showing normal with US economy expectation. Since I stated BEARISH tone from 12/2007, the stock charts were telling me more likely it was a transition from bull market to bear market. It proved again I am right about the bearish fake rally from March to May. Do anyone still believe the rate cut would help our economy? stock markets?....etc. Folks, the charts tell me the whole picture behind. Let see if market could rally all back to breakeven, if that happen so it would be good short term bottom. Technically, next level for Dow to have good support would be 11000-11200. The S&P would be around 1275. I believe it would have very good recovery rally once the S&P get bounce around 1275 level.
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