US Stocks Fall Most Since January on European Debt Downgrades
US Stocks Fall Most Since January on European Debt Downgrades as protestors spill out into the streets and become violent towards police.
Also still topping the headlines are the evil doers at Goldman Sach who continued to be investigated for creating and betting againt failing segments of the subprime crisis. While I dont doubt this, I see that this is really digging its heels into the stockmarket and causing bigger selling volume to come back in. Very intresting.
As US Stocks Fall Most Since January on European Debt Downgrades Here are some ‘INTERESTING’ charts to have a look at with some of my cheeky comments included 
First take a look at the action this week intraday….
Where have all those randy bulls gone. Normally we see a big up move on friday but not this week. Hmmmmm. Seems likely they have gone into hiding. Or as you read this they are holding an urgent meeting to discuss how they should go about taking this market higher next week. But with what is happening in the news, it sure has made the bears come out in droves and flip the birdie to the bulls….like this…..
If you are an avid trader you will also notice that the action over the last week has created a major topping pattern called a “head and shoulders pattern”. (See chart below)
This sort of pattern normal precedes a downward move. So with the extra added pressure of the greek debt again surfacing and the numbskulls (aka goldman sachs big wigs) getting served up infront of congress it will be interesting to see what plays out next week. Will the bears win again. Well, with this sort of pattern above it is pretty easy to say yes….but time will tell.
