Stock Market Analysis – 03-09-2009
March 9, 2009 at 8:46 pm · Filed Under Broader Market
I keep expecting a bounce, but it’s nowhere to be seen. After an early morning rally, the support dried up and went back down into the negative. The descending channel is starting to get extended, but we have seen further slides before. Does today’s light volume signal weakening downwards pressure? It’s always hard to preemptively call a reversal, so I won’t bother. I’ll just continue pointing out the overextension of this bear rally and note that I’m mostly out of the market until it bounces and forms a decent short entry again.
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