Next Week’s Releases Should Push the Market Below Major Support!
In the last two weeks, the market has weakened considerably. The negative news is mounting and stocks are trying desperately to tread water. Earnings season is almost over and the backend was not very encouraging. Cisco CEO John Chambers said that business have never been more difficult to forecast. He has been cheering about a “global recovery” for more than a year and his tune changed suddenly. Retailers have been lowering Q3 guidance and shoppers are focusing on necessities. Consumer goods companies like Procter & Gamble and Colgate have noticed that customers are trading down to off brand products. These trends …
August 26, 2010
• Posted in: Options
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