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You Are Here: Home > Articles > Contributors > Great Rally!

Great Rally!
Sep 06, 2008

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Declan Fallon

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Well that was a bit of a turkey. Bears have really set the tone for the next few days and bulls will have to get their finger out if they are to halt this slide. Bullish Percents took a universal dive across the board.

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But the real casualty on the day was the NYSE.
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With such comprehensive damage it is looking more and more likely the Dow and S&P will follow suit down past July lows. Given the relative position of breadth indicators (neutral to overbought) there is room to see this evolve into a more substantial decline with the possibility of a bear trap relatively slim.
I don't know if Russell 2000 support will be enough to save the market (August 25th comments still valid today):
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by Declan Fallon (Fallond Stock Picks)

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