It looks like we will get a snap back at the open. This is to be expected after such a violent sell off on Friday. What I think will matter will be the quality and duration of this snap back. If the high print of the day occurs in the first 15 minutes, which will be a bad sign. If the market erodes slowly, that will be a bad sign too.
Bill McLaren, whom I respect very much, called for the S+P 500 to turn on Jan 11. He got that right and thinks the SPX has now started a 90 day down trend.
Wikinvest Wire
2 comments:
Can you post where we could read Mr. McLauren's view?
Also, are you still going to post about your experience opening the Icelandic account? I read a very detailed anlysis of their economic prospects that seemed to indicate short term stable, medium term weakness, and long term stable again. Interesting country with great challenges ahead, but a population used to overcoming them.
For McLaren's content you can go to http://www.mclarenreport.com.au/yvs500/default.asp
As for Iceland; I am still waiting to get my Icelandic ID number. I would rather write about after the process is complete.
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