Where Is The Market Going??

I have noted a couple of times lately that I thought the market was heading south, breaking through support levels, and finding a new range. The past week would argue in favor of what I have said. I am not saying I am right yet, but there is some pretty good proof that I am not off the mark too much.

I have to say, however, that I think we are still at the top end of the new trading range. Nothing scientific here, just reading the tea leaves. I see no good news on the immediate horizon and the bad news is gaining steam. I still think we are not just in an L shaped recession, but a depression. Not as bad as 1929, but not that far off. Time to hunker down!!

Disclosures: None