Monday, May 24, 2010

Is it just a correction or a new bear market ?

Bursa Industrial Index - Wave II correction


Dow - Wave II correction


Nasdaq - Wave C Bear (Based on Indicator)

S&P - Wave C Bear (Based on Indicator)


Nasdaq - Wave (IV) Correction (Based on indicator)


S&P - Wave (IV) Correction (Based on Indicator)

I believe there is no definite answer. Opinion will be split 50-50, that is why there are buyers and sellers everyday. For every transaction you need a buyer and a seller to close the deal. But whatever it is, I will be reducing my stocks holding gradually. Stocks with bearish looking pattern will have to go first. At this stage there is still no sign that I have to run for my life.


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