Investing to Wealth

The market had a normal correction yesterday following the best run in stocks since November, but again the press chimed in with more dire pronouncements of gloom: "Equities down again as economy rears its ugly head," and "Some project unemployment will hit 7.5% in January, and 9% in third quarter," from MarketWatch.com.

Doesn't anyone know that unemployment is a trailing indicator telling us that within three to six months earnings will probably turn higher?

Despite the predictions, stocks continue to hold at the vital S&P 500 800-820 support zone, and last week the tape action even produced a short-term buy signal from the stochastic indicator.

Continue reading Today's technical outlook: Looking for support

Today's technical outlook: Looking for support originally appeared on BloggingStocks on Fri, 30 Jan 2009 09:30:00 EST. Please see our terms for use of feeds.