Stock Market Ready to Make a Strong Move
Posted on | July 9, 2009 | No Comments
Please use Subprime Blogger to get your daily mortgage rates. Now that the government is trying to cap interest rates, you could save a great amount of money by keeping up with where rates currently are.
As you can see from the chart above, the stock market currently sits in a very unique position. The golden cross of the 50 day moving average above the 200 day moving average is usually very bullish but if we see a strong breakdown below the 200 day moving average things could get very ugly for the overall stock market. It will be very interesting to see what happens in the near future, but there will be a strong move made one way or the other. Over the long term, I remain bearish as the economy has not gotten any better. Over the short term, the move in the next few days will determine where the market is headed.
Another breakdown in our stock market and it will be interesting to see if the government will continue to print money. Eventually the countries that are lending us money are going to figure out that we are trying to print our way out of this recession and it has not worked. Once things settle, we are going to see average mortgage rates MUCH higher as inflation will hit hard.
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