Ox Year = Bull Year?? Dow

With the 'disastrous' Rat year coming to an end, many will be hoping for a recovery in the coming Ox year. Is the market going for another bull run? Personally, I don't think so. After a Black October last year, global markets basically consolidate and range trade for the past 3 months.

However, despite a series of unprecedented coordinated rescue plans and stimulus packages by the major 'economic superpower' countries, global economies failed to recover. Instead, they sky-dive during these months and global recession hit the world. Corporations after corporations announced big losses, fold up or got their corporate scandals exposed. If not, some will 'Ask Idiot Grant' from Uncle Sam to pay for their executives to play half a million dollars of golf. To me, this is a set-up for one more major stock market crash. I have a bad feeling (depending on perspective it might be good) that another major bank going to do a 'Lehman Sisters'.

DJIA: Dow Jones is sitting precariously at the edge of a support line now. A small rebound might be possible but unless the US banks sort out their problems and the economy turns around soon, this support may not hold for long. A break may see another 1,000pts correction down to 7,000pts.

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