Archive for May, 2011
Market in DOWNTREND, May 24
The market went into a downtrend yesterday on May 23rd. Despite me being very negative to the long-term outlook for the stock market I do believe the S&P500 will have another go for the top from April 29th, which eventually will make it also go higher. It is impossible to say if and when this will happen, but you should be cautious with your investments until we get another confirmed uptrend. Yesterday was however a 90% downday which sometimes arrive near to bottoms in the market.