Market is going down. And it’s OK.

March 10, 2011 in Daily Outlook

image thumb21 Market is going down.  And it’s OK.

Today has indicated strong downward pressure that shows good signs of continued follow through.  And I want everyone to know that it is ok.  From where SPY, SPDR S&P 500, is right now the price action could fall down to the $122 range (somewhere around the 200 EMA) in the next two months and still maintain it’s upward trending channel. It is no cause for panic.  There is no reason to believe that it is the next big crash.  It’s just the way the normal (inartificially stimulated) market is supposed to breath.  It really is OK for the market to go down a bit.

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