The Market isn’t Strengthening any Time Soon

A few weeks ago, I noted the long – very long! – period of congestion would almost have to be broken with a major move.  I didn’t know the direction, but was confident of the ferocity.

Sure enough, we dropped with a bang, and despite a few rallies, Friday’s action told me the market isn’t strengthening any time soon.

There is a distinct camp of economists who say the economy is doing just fine.  If so, why is Wal-Mart (NYSE:WMT) having a downright awful year?

Maybe oil has bottomed!!  Or not.  Still looks weak to me.

Back next week to see if we revisit the lows…or if the Chartman is completely wrong!