Monday, October 19, 2009

Oct. 20 Market outlook: Skeptical!

A moment ago CNBC interviewed Art Cashin of UBS Warburg. When Mark Haines asked Art where he was in his market outlook, Art replied "skeptical". Well I am too as we have not had the breakout above the downtrend line and the wedge gets narrower and narrower. We can continue in this tight range for at least a week or two but a breakout is inevitable to either the upside or the downside. I am with Art here. I believe if it looks to good to be true to move more to the upside, it probably is.

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