Market Perspective 12-12-08

It appears that the stock market is basing for a nice upturn.  If we bounce off of the current downtrendline at about 855 on the S&P500, we should see a nice rally into 2009, maybe even up to the 200 day moving average … something we are a ways away from now.

After that, it could be a retest of the lows we saw in November.  The economy is just now getting into the full throws of the recession that is upon us and it is not going away anytime soon.  Continuing to print money and throwing it at any problem that comes along is going to start to come back to haunt us as well.

I see that the automaker (auto-faker?) bailout died in the Senate.  Must not have been enough pork in there Read more