Toxic Trillions Lifted by Lowly GM ~ The Risk Averse Alert

Thursday, July 22, 2010

Toxic Trillions Lifted by Lowly GM

Now if only the rest of corporate America were in a taxpayer-assisted position to re-lever its balance sheet like GM ... then, maybe days like today might actually stick!


Continuing is the trend since May, wherein increasing (yet still negative) momentum (MACD) coincidentally registers at lower index highs. Thus, another turn lower can be expected here, and this in keeping with further sideways trading thought likely to develop leading up to the market's projected collapse sometime over the next couple months.

OEX 5-min

There's a reasonable chance the market's turn lower was made late in the day today. Give it another week or so, and we should be setting new lows, post-April peak.

Fast Money
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