Drizzt: long term market analysis is a series once or twice a month where we take a look at longer term trends in the market to get our bearings right on the general direction of prices.
I wasn’t going to do a long term market analysis series so soon but when the DOW fell by more than 500 points and STI fell by 100 points it is better that we take stock of where we are.
The Dow Industrials DJIA finished Friday up 60 points, but fell 5.8% for the week, the worst weekly performance since the week of March 6, 2009, when it dropped 6.2%
The S&P 500 SPX ended slightly lower on the day, but fell 7.19% for the week, the worst performance since the week of Nov. 12, 2008 when it fell 8.4%.
