Thursday, June 26, 2008

Market decline is accelerating

As this chart of the S&P 500 shows, the slope between each of the last four successive lows has been increasing. A parabolic trend like this can't last forever, but it can take the market much lower before the trend reverses. In a previous comment section I pointed out that when double-bottoms are re-tested they rarely hold, so we may be about to blow past the double March lows of 1273-1276.

No comments: