Stock Market Turnaround Could Be Near

Monday, August 8, 2011

Often, a dramatic, weekly move that accentuates a previous trend is followed by an equally dramatic one in the opposite direction. Last week’s decline could be just such a move, setting us up for a possible stock market turnaround.

One week’s action does not signify a trend

Occasionally, we get dramatic and negative news that requires a weekend of quiet contemplation to digest. Once that thought process is completed, the previous week’s wild moves can look out of whack. Investors then put together their buy lists, thereby reversing some of the previous move. This support can then calm emotions and encourage others to take advantage of good prices.

Will it happen this time?

This article is posted on SeekingAlpha.com

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