Friday, September 07, 2007

This Is Likely Do Or Die For The Bulls

With today's weak unemployment report, the markets are at the most telling test of this bull market. The media reports the employment data is unexpected? I've said for a year that my models say a recession is a foregone conclusion and it's a matter of when not if. The S&P, where smart money roams, is pointing to a possible bear market ABC pattern. Failure for the market to rally above the August highs before another down leg points to a high probability of new lows. As an aside, I also believe it is highly probable the 2000-2003 correction and the 2003-2007 move up are likely larger A and B patterns respectively. Therefore, another lengthy and serious declining C wave should be expected unless the market proves otherwise.

Enjoy the weekend! By the way, a little hint. Major pre-market dumps are seldom rewarded.
posted by TimingLogic at 9:15 AM

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