Stock Market Analysis – 01-29-2010
January 30, 2010 at 11:28 am · Filed Under Broader Market
It’s been a while since I posted a weekly chart. As bad as the recent drop is looking to some people, it’s nothing on a grander scale. We’re hanging around the initial 2008 crash zone, so a pause is expected. Without any large corrections since the beginning of last year, we’re still considered a bull market that’s overbought. While it’s a short opportunity for more active players, it’s not panic time if you only look at the bigger picture. I would be taking profits on high fliers that look overextended, and I wouldn’t be purchasing new positions, but I also wouldn’t be liquidating my whole account blindly… yet.
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