First Sign of a Wall of Worry Appears ~ The Risk Averse Alert

Monday, August 25, 2008

First Sign of a Wall of Worry Appears

How's that for sickly trading? Some cyclically positive period, huh.

Chances are there's still more selling to come following today's not-so-surprising sharp move lower. Just how much is not any more certain, though.

One thing worth noting...

Low volume accompanying a more or less straight line decline like today's indicates a greater measure of underlying fear than might first seem to meet the eyes. This is revealed simply by buyers refusing to step up. Thus, we see some sign of the wall of worry the market is said to climb.

I continue supposing the expected break below July's low might be preceded by more or less indecisive trading over the next couple weeks, providing little clarification of what's likely to unfold most immediately during the interim, and so, inspiring the briefest of analytical commentary, like today's...

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