Thursday, June 26, 2008

DIA support at 11280

$NAUD says market should bounce, or market should be mixed---imo

DIA on the XY chart shows it's pretty hard for DIA to go below 11280
also look at all these other BUY now, situations-- XLI especially

Are you with me? Can you see why I'm still bearish on the market since MAY 19th top?

For the second quarter, according to Thomson Reuters, analysts expect earnings for S&P 500 companies to come in 8.1% lower than the second quarter of 2007. A lot of that bad news, however, is attributable to the fumbling financials, which are expecting the worst earnings decline rate of any sector at -49%. Strip out the financials and the Q2 growth rate for the remaining nine sectors is 8.1%.

here's the entire article

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