July 18, 2024

San Diego housing bubbleAfter an opening surge up 120 points, the Bears pulled the rug out from under the naive Bulls who thought that  Monday’s upward move of  92 points was a sign that the sub-prime loan mess was no longer a factor for stocks.

The very worrisome factor in today’s move is that it set up a classical stock value key reversal. Today there was a "key reversal,” when the prices mark the highest price then turnaround and close below the previous day’s low.  When this occurs, the market is announcing a very likely correction. So be careful![tags]stock market,key reversal,sub-prime,subprime loans,housing bubble[/tags] downtown San Diego real estate

3 thoughts on “Stock Market tumbles 146 points . . . The Perfect Bull Trap on Sub-Prime Woes

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