rhino127

Good News: Consumer Confidence Falls to 26-Year Low

I think you have to go back further and note that market fell from a top on 12/31/1976 at 1004.65 and did not recover until 1981 on 4/17/1981 only to fall again in 1982 to 784.34 on account of the Savings and Loan collapse which was the bottom before the rally of 1983. The market traded between 800 and 1000 from 1976 to 1982 - that is almost 6 years... I think we need to be prudent in identifying a bottom - my feeling is that we need to revisit the 11700 support before this market can go higher...

Under The Radar News - Monday

Dick Cheney on way to Mideast to talk down Oil prices - maybe a deal in the offing ... $70 crude for the fall? just in time for elections.