I am not overly bearish on the markets. There wont be a double dip. The next bear stage will only bring the DOW to about 10100. I think 10k will hold this time.
Don’t forget that a few downgrades are still underway – mainly the SPANISH one.
Late Sunday night, Japanese market is tumbling down and if it breaches the 9500 support, it may spark the sell off in US markets tomorrow morning.
The key news this week revolves around the FED as speculation that FED wants to do some cool stuff to the economy brought about the late afternoon rally last Friday.
Safest bet is not to make any trade decisions just yet. However, if the DOW starts to collapse 50 points tomorrow, it is a possible entry point for shorts.
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