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Despite Tuesday Rally, Markets Still Rotting From The Inside Out!

  • Written by Syndicated Publisher No Comments Comments
    June 1, 2012

    US markets stormed back after the Memorial Day holiday with a vengeance on Tuesday with the Dow Jones Industrial Average rallying more than one percent, as did most of the other US equity markets.  However, the story that is not being seen (because it can’t be) is the ongoing and dramatic technical internal deterioration of the major US markets – and once again in the face of markets rallying strongly on Tuesday, the technicals again continued to unravel with 15 NEW intermediate bearish trend signals triggering among the S&P500 – according to our highly accurate and reliable proprietary trend signal analytics model.

    Amongst today’s rapid technically deteriorating companies were some BIG names including (drum roll please) – Goldman Sachs (GS).

    We have fond memories of Goldman Sachs and the ‘field-day’ we had off the back of the steep declines in this stock during 2011 – we now have the same technical trigger on Goldman Sachs that we did just prior to the 40% price decline that this stock experienced in 2011.

    Now unless you subscribe to our service, obviously you won’t have the benefit of knowing exactly when a new trend is starting or an old trend is ending – but what I can tell you is that new intermediate trend signals typically have a duration of at least several months out to a potential year or more.  And by the way, I almost forgot – how many turned bullish on Tuesday? – that’s easy to count again – ZERO!

    We’ve been telling you for some time that the complexion of this market is changing and we are now starting to see some of the big names and heavier weighted names starting to turn bearish – and regardless of what prices are doing the underlying technical picture is quickly unraveling here.

    To view 15 new bearish stocks and a detailed video covering the 4 new portfolio additions click here >>

    If you are not already a member you can join now and get instant access here

    Image: Flickr (licence attribution)

    *Please note that the information provided here is for information purposes only and should not be construed in anyway as advice of any sort. Please familiarize yourself our important disclaimers here before continuing.
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