Down down down

Well, didn't I say there was a downside coming? Well it did, looking at fundamental data from US last week and this week, it seems that recovery is far from rosy. Friday was an important day as many investors were waiting for the jobs data to see where the market can head. A good data will push market up, disappointing data ends up down. Result? Disappointing jobs data in addition with disappointing factory orders continued the downward slide. Some analysts were talking about head and shoulder formation in S&P500. It has already broken through. Now it could be a bearish market instead of a correction.

In my opinion, it's a bearish and mixed. Cause looking at Singapore side, the economy is reporting extremely well recovery and progress. While the western side is reporting disappointing recovery. Very confusing indeed.

For now I'm sticking to the bears for next week till I see a turning point.