Stock Market At The Precipice Says Market Timer Frank Kollar
March 7, 2008 (FinancialWire) (By Frank Kollar)
The S&P 500 Index – SPX and Nasdaq 100 Index – NDX have both declined almost to the January panic lows.
Two weeks ago we wrote, “both the SPX and NDX are forming pennant formations in the weeks after the panic lows on January 22 and 23. Whichever way these patterns break; look for a huge move in the stock market.”
But now that pennant has broken to the downside.
All that is left to support the stock market is the panic lows made on January 22 nd and January 23 rd. If those lows fail to hold, there is little in the way of support and the stock market could be in for continued declines.
Even if we do reverse off the January lows, we may very well have to deal with continued selling after any rally runs its course. The market is now markedly bearish.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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