Where is the current stock market taking us?

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The stock market is in a severe downtrend at the moment. A flagging economy and a horrific job report did wonders to the already fragile set up. How deep and penetrating this may lead only stock pundits and fortune tellers can tell you. Technical analysis only shows where you have been and what you can expect based on the charts itself and price action that is there. It uses tools of the trade and indicators and mathematical formulas and statistical calculations.

So we had dropped last 12 session in a row as of today. Its unprecedented and unusual to most stock market observers. The selling has been in angst and relentless but tamed. There is a downside number everyday on major indexes.

The US economic news started with bad job report on May 4 , 2012.  Just about 115,000 jobs were added and that splashed cold water on investors and institutional traders. The market has been on run for the last 3 months or the first quarter and when everyone thought the gravy trains will continue but it suddenly screeched to a halt. Take a look at the video here:

Mixed bag of news also started pouring from European countries. France has it’s new President and the Socialist party came to the power in broad sweep over Sarkozy Government. Greece failed to cover up a viable Government and the debt woes of Greece started hitting the news wire again. These worries are just the repeat of the summer of 2011 when it felt like the world was going to end and reminded all of us how fragile the economic recovery has been and the kind of slippery slope we have been skidding.

The stock market needs a stable economic environment, growth and certainty, free from threats of wars, and high gas prices, and above all confidence generated from Washington not Wall street.

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