Maybe -- but maybe not... weekly charts of the major indices look like they could be putting in a bottom. Can go both ways. I wouldn't discount the power of central banks if they intend to continue to raise the prices. We are in the center of a century+ change in the of the world, i think the markets keep going up up up.
The one thing to remember is that holiday sales might not be a very pretty picture as well. I mean electronics are usually an area of big sales and from the looks of it many of the semiconductor stocks are starting to hurt big time on their guidance. Hell QCOM's guidance on their last Q was pretty soft. So if holiday sales come in soft this year the market could really see a pull back. Again I am starting to really feel the same way. This bull market is long in the tooth here. Are we at the start of a bear market I am not sure to be honest. But can this market see 20-21K again pretty quick I would have to say yes. I think buying the miners early this week was the smart play. They were beat down big time so you were able to get some great prices.
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