More More Signs Of The End...

When a market is ready for some serious bullish turn around, sentiments are usually at its bleakest. Remember the old adage that it is always darkest before dawn? Today, we saw consumer sentiments tanked 9 points much more than expected! What this is telling us is that consumers are now more pessimistic than economists! I mean, who can be more pessimistic than hard core economists right now? HOWEVER, what happened in the market today? NOTHING! The markets held up all day and closed with the NASDAQ and the SP-500 both marginally higher. Although I would classify this as merely a sideways day, which is perfectly normal after such a huge run up over the past few days, it is significant as it clearly shows that the bulls are not about to let go despite bad economic news. So, 2 more signs of the end of the bear market today:

1. Consumer sentiment index collapses

2. Market held up despite bad economic news

Are you ready for the eruption?