Given the dismal payroll report that came through today and the subsequent thrashing the market took, it seems in all likelihood (or maybe I missed something) that we will begin to see either the “correction” phase (if indeed the market has already hit it’s secular bear low), or something more sinister. Given the data so far, I continue to believe that the market has not made it’s final low. This could change but for the time being that is my stance.
I would like to point out to you however the sectors that suffered the most from this drop. Two issues that I have been harping on over the last month (read my June 4th, 10th, and 18th posts) are Energy and Consumer Discretionary stocks…what? … Oh My… What have we here?
See so yourself