Skip to main content
Report this ad

Even more selling for the markets???

Yesterday, on May 20, 2010, the stock market posted their biggest point drop in more than a year, according to Yahoo ( However, it appears that more is to come. While it appears that this correction is overdone, yesterday broke through an important level from a technical basis...the 200-day moving average. The S&P 500 closed below their 200-day moving average. Many technical analysts would use this indicator as a strong 'sell' signal.

Last year around this time, the U.S. government was hustling around to try to stabilize our markets. This seems to be Europe's turn. However, Europe seems to move somewhat slower. France and Germany continue to wrestle over who is right and how to implement rules and procedures of how this European Union will act. Mean while, the sellers will have their way. Any positive earnings or economic news from the U.S. has little to no effect. Please someone wake me up when Europe starts to act or the end of May is here...which ever comes first. The smart money isn't on Europe...


Report this ad