Stock Market - S&P Breaks Key Support

**Go2Guy** · 06-30-2010, 02:59 PM

Look out below. Next stop looks to be in the 960-980 area.
Tomorrow at 8:30 EST is the May (un)employment data release. Uh oh.

**brianhos** · 06-30-2010, 03:01 PM

Ouchie.... Here comes the double dip.

**CYKOFAN** · 06-30-2010, 03:06 PM

Not looking good. Slow economy and can't lower interest rates since those bullets were used up 3 years ago to create the borrowing and housing boom.

**Cyched** · 06-30-2010, 03:07 PM

Metropolitan Area Employment and Unemployment Summary

**TykeClone** · 06-30-2010, 03:10 PM

Originally Posted by CYKOFAN

Not looking good. Slow economy and can't lower interest rates since those bullets were used up 3 years ago to create the borrowing and housing boom.

Don't bet on "0" being the floor.

Japanese banks hit with negative interest rates - Nov. 6, 1998

**jamesfnb** · 06-30-2010, 08:22 PM

A key support was broken 45 days ago when it went below the 200-day moving average. Hasn't been good since and not looking good in the near future.

**Dopey** · 06-30-2010, 08:31 PM

Coincidence?

House passes Wall Street reform, Senate vote in 2 weeks - Jun. 30, 2010

**acgclone** · 06-30-2010, 08:43 PM

Just about any business owner/operator can tell you that just in the last several weeks, there has been a noticeable decline in sales. In a business that should normally be picking up steam throughout the summer, we're soft.

This is likely to continue for several months. I think the stock market has done well over the past 15 months in large part due to a rebuilding of inventories and government stimulus that has extended jobless benefits and kept public sector employees from being laid off. That stimulus has now ended and inventories are rebuilt.

I think that coincides with what we're seeing in the market technically as well.

**dmclone** · 06-30-2010, 09:11 PM

Happy I made these changes at the start of the month. I just wish I would have went a little further. Now the big question is when to get back in. I don't think anything good can happen this year. I would also think a lot of people will be selling before 2011 because of the tax changes coming but what do I know.

http://www.cyclonefanatic.com/forum/...k-changes.html

**Wesley** · 06-30-2010, 09:28 PM

Looks like a drop of 1000 in Dow is now possible.

**Cyclonepride** · 06-30-2010, 09:31 PM

All there really is to do is let it ride. Not sure where else I'd put my money, and I'm in it for the long term.

**jmb** · 06-30-2010, 09:32 PM

Originally Posted by brianhos

Ouchie.... Here comes the double dip.

the dd that you speak of has all been a sham...we have never exited the Great Recession. Consumers have not been spending outside of tax incentive spending...ie housing etc. This is not going to be a smooth landing by any means. I was talking to a hedge fund manager friend...he has been building a 'wall of cash' for sometime.

**StLouisClone** · 06-30-2010, 09:32 PM

Originally Posted by Wesley

Looks like a drop of 1000 in Dow is now possible.

Over what time frame? Tomorrow?

It's already dropped 1500 points from its April high. Back then Larry Kudlow couldn't do a show without mentioning the V-shaped recovery we were in. I haven't heard him mention a peep about it in the last couple weeks. Bulls are getting harder and harder to find.

**jmb** · 06-30-2010, 09:33 PM

Originally Posted by Cyclonepride

All there really is to do is let it ride. Not sure where else I'd put my money, and I'm in it for the long term.

cash...who cares if you get 0.05% the alternative sucks-

**jmb** · 06-30-2010, 09:34 PM

Originally Posted by StLouisClone

Over what time frame? Tomorrow?

It's already dropped 1500 points from its April high. Back then Larry Kudlow couldn't do a show without mentioning the V-shaped recovery we were in. I haven't heard him mention a peep about it in the last couple weeks. Bulls are getting harder and harder to find.

kudlow is the equivalent of a news anchor...nothing more. Anybody looking at him beyond that is a bit 'touched' in the head.