This is not an analysis on my side, but Gregg Schnell posted some of his findings on StockCharts.com
In the last week we have seen many large US stocks missing their estimates. This does not feel good technically or fundamentally.
Stocks can still go higher, but we would like to see earnings validating prices. Yet, all these weakness seem to invalidate them.
Be vigilant. Those that keep saying nothing cheap to buy you may get your chance soon. As usual, market can stay irrational for longer than expected.
[The 800 Pound Gorillas Are Living The Party]
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- Long Term Market Analysis: Prolong Drawdown in Singapore and S&P 500 $SPY $EWS
- Long Term Market Analysis: World Stock Markets Biggest Fell since 2008 $SPY $EWS
- Long Term Market Analysis: Which way in 2012?
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