If one bases trading on the mindset of consumers the market will continue to do a head fake. Consumers are scared and will take a long time to come out of hiding. Employment numbers are still rising like I have mentioned for months and will reach 10%. This means more foreclosures and more families that will need government assistance. A slow rise on the S&P and the dollar is what our country needs! The S&P has a range of 982-1017 creating a gap of uncertainty and steady movements. Are we going to see a bigger correction? There is a possibility that a 15%-20% correction could take place. A second wave of lay-offs, foreclosures, bank closings, and market consolidation may occur; like a mini relapse.

This entry was posted on Tuesday, August 18th, 2009 at 10:05 am and is filed under Financials. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.