Monday, June 4, 2012

BEAR MARKET TERRITORY



Friday, June 1, 2012 had been significant for many reasons:
1. S&P 500 confirmed it has moved into the bear market territory after touching the 200 moving average for the first time this year.
2. Friday's market breakdown erased all the gains it had built since the start of the year with DOW down 274 points!


This market condition should probably persist as EU is teteering on the brink of economic collapse and break-up. More and more countries are needing bail out funds esp Spain and Italy. China's economic data are showing an accelerated decline owing to slowdown in its exports. The US as well is not performing well as shown by its Friday's jobless data. All of these factors contributed to the enormous decline in the stock market last Friday.


Let's see how the market reacts today, June 4, 2012. Hope it was just a correction.



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