ETF Range Projections & Quote of the Day

Wherever we are and whatever we are doing, it is possible to learn something that can enrich our lives and the lives of others… No one’s education is ever complete.
– Sir John Templeton

10 AM ET – ISM Manufacturing Index and Construction Spending.

Also at 10 AM – Pending Home Sales.

A good deal of news and economic reports for the markets to ponder today; Bloomberg News is reporting the President Obama favors bankruptcy for GM and Chrysler, and the G20 meeting begins at dinner tonight .

Overseas markets are mostly flat and mixed: Nikkei 225 +2.99%, Hang Seng -0.42%, Shanghai +1.47%, DAX -0.13% , and the FTSE 100 -0.04%.

At about 7:50 AM ET the futures are: Dow -62, S&P -6, NAZ -13 , Oil -$1.06 and Gold +$3.60.

have a great day!

Maybe it’s Just Time?

Many people myself included have spent a good deal of time comparining this bear market to the one in the 1970′s and the 1930′s as they seemed the most logical and perhaps that’s what we should be comparing.

However what if this bear market has similarities to it’s predecessor in 2000 through 2002/3?

Depending upon your definitions the end of the 2000 bear market occurred with a sideways consolidation period lasting about 42 weeks.  In October of ’02 the SP made a nominal new low under the July low and then reversed.

In March of 2009 the SP broke under it’s November low and reversed back into a possible consolidation area, outlined on the chart.  Is it possible that what this market needs in order to bottom is just time?

Anything of course is possible.