A snippet from McHugh's latest newsletter on US markets...
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Clearly the Bearish scenario we outlined a few weeks ago is occurring, a stock market crash continuing from Election Day. The Industrials are down 17.5 percent since election day. There is a chance the 2002 lows will be taken out in most major indices over the next week or so. That suggests this Bear market is a high degree correction, meaning we could see the Industrials drop toward the 5,000's late in 2009, or 2010 after a middle phase Bear market rally unfolds in early 2009. We got new intraday and closing lows for the S&P 500 on Wednesday, November 18th for the decline from a year ago. The S&P 500 has lost 48.5 percent since October 2007. The NASDAQ Composite has lost 51.5 percent since then. The S&P 500 closed at its lowest level since March 2003, at the start of the Iraq war, on Wednesday.
outliered out of the bollinger band today, page-29
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Last
$40.01 |
Change
-0.540(1.33%) |
Mkt cap ! $203.0B | |||
| Open | High | Low | Value | Volume |
| $40.52 | $40.63 | $40.01 | $261.2M | 6.492M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 21029 | $40.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.02 | 15000 | 1 |
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| Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |