...denn sie haben kapiert, was zur Zeit in den USA passiert. Hier der Kommentar:

For tomorrow, the bias is definitively down based on stochastics and clues from the charts. If we get an immediate move higher from the open on Monday, then we have the potential to move back to 2900 or higher. However, a continued move lower is more likely right now with a potential target of 2580 at least. One thing to keep in mind is the FED meeting this week. By my analysis, any cut of 50bp or less will be met by selling as this is already factored into the market, though a 50bp may produce a short term pop first. 75bp does not look likely and if we do get it, may be highly questioned as to why there is a cut so large so the eventual outcome may also be selling but may be delayed. The market is not getting any better folks. The Nasdaq has been cut by over 40% but earnings are falling so P/E's are still indicating the market is very overvalued. Greenspan has tesitifed that the current growth rate is ZERO percent, companies are warning left and right, the FED is pumping liquidity into market with coupon passes and repos at an alarming rate, and we just got a 50bp surprise rate cut only a few weeks ago with more on the way. Clearly there is something wrong here, and the market's current state of euphoria over a"bottom" may be wrongly justified. Nevertheless, we have to watch the near term action and I suspect we may get a decline Monday followed by a small rally going into the FED meeting that should produce a pop and then a more rapid decline towards the end of the week. Let's see how it plays out.....

Good luck!


<center>

<HR>

</center>