Monday, March 10, 2008

Five months of downside in a row?

We are nearly half-way through March and it is on course to register another down month. Even during the worse of the 2000-2002 bear market it was rare to see more than 4 down months in a row - the worst run was 6-months which marked the very bottom of the market in 2002. Even in that instance, the low created after 4-months held as support for the subsequent 2-months.

Will we see 2,202 hold as support?