03 Nov
Downtrend may resume
With a week full of potentially sour economic data and political uncertainty, the market may be poised to resume its downtrend and give back much of its gains. See our chart of the S&P December 2008 futures:
The chart above shows the potential for the downtrend to resume as the futures have considerably weakened off their overnight rally, which retested Friday’s highs. We have had a week of mostly gains, with back to back up days. In this kind of bear market environment it is doubtful that the rally can last too much longer.