Thursday, November 20, 2008

Swimming in a sea of red

US stocks slid another 6% today to 5-year lows as the Dow closed at 7552 and the SPX at 752. Asian markets were similarly bearish as the Nifty closed down 3% to 2553 while the Sensex closed at 8451.

So is this the low for the 2008? That is the question now that the Jupiter-Saturn aspect will become exact tomorrow at 9 a.m. EST just before the open in New York. Since most energy is released in advance of major aspects, there is even more reason to believe that we are on the verge of another bear market rally. As the aspect separates during Friday's session in the US, there is a very good chance that sentiment will finally shift.