I know the market has been down 8 of the last 9 Mondays so no big deal right?
Uh no? Economists around the world think we are on the way to a depression never mind a recession.
After the market got hammered on Thursday, it more or less broke even on Friday. This was probably because most traders headed for the hills and regrouped over the weekend?
The market today lost anywhere from 1-2 % depending on where you live.
Factors to watch tomorrow:
1) Moody’s said after closing that last week changes to mortgages are good but maybe to little to late.
2) Moody’s downgraded 28 Spanish banks due to increases debt risks.
3) Greece’s Finance Minister resigned due to ill health. He had been on the job a whole week and suffered abdominal pain, nausea and dizziness.( How else would you feel after looking at their books)
Lets see what happens.
What do you think?