Saturday, December 29, 2007

Another successful prediction

As predicted, there was no year-end rally in the US stock market.

The prediction Little chance of a year-end rally in 2007 was published on this blog on December 17, 2007. This assessment was based on a reading of transit influences in the SAMVA USA chart.

On December 29, 2007 Bloomberg reported that "U.S. Stocks Decline, Poised for Worst Fourth Quarter Since 2000." The reasons given for the poor performance of recent days are that "government reports on durable goods and unemployment reinforced speculation the housing-market collapse will push the economy into recession." The assassination of Benazir Bhutto in Pakistan on December 27 also had a negative effect on the stock market.

This prediction follows another successful prediction of Down days ahead for the Dow made on this blog on December 11, 2007.

More on the stock market and prospects for the US economy later.

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