so 6 more days like today
Bad economic data this morning. Durable goods orders in January down 5.2% and mortgages down 3.8%
You know anybody saying housing bottom or recovery is full of BS. Banks are still sitting on record inventory of foreclosed homes that they haven't dumped yet.
So, I think we're about to enter a new recession and bear market. GDP was negative even before sequestration hits and kills 1 million jobs. We're going down big.
The government spending for the last 4 years only delayed the inevitable... A big real recession now.
IWM broke below prior day's low and breaking below current 20ma on striong volume are negative indications.
I don't know about 12% but the Dow 20,000 club are a little ahead of themselves for sure. The government budget deal is not going to go quite like the fiscal cliff thing went down.
I think IWM comes back to 85 fairly quickly.