Three Negative days and 2 Positive days.
Unless and until there is a one major turning point in the coming months which determines the psychological bottom of the market for the current downturn there is not going to be many wealthy buyers jumping into the buying frenzy.
The really rich and intelligent know that the market has not bottomed yet.
Wisdom floating on the Internet and other publications by seasoned traders and my ‘limited knowledge and intelligence’ interprets the market to end down by end of November 2008 then what it is now.
About the bottom, I believe the bottom will be around 7200 points on Dow Jones.
I will compare this prediction against time to come.
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