Business-Insider

by S. Wade Hansen

U.S. stocks appear to have hit bottom and are turning around and rebounding---for now. According the the NYSE Bullish Percent Index, stocks have bottomed and more and more stocks are turning around and showing point-and-figure buy signals.


Chart from www.StockCharts.com

If you aren't familiar with how the Bullish Percent Index works, StockCharts.com has a nice explaination of it here (http://stockcharts.com/school/doku.p...cent_index_bpi).

As long as Bernanke and his FOMC posse cut rates 0.50% this week, more and more stocks should start to turn around and show point-and-figure buy signals---which will move the Bullish Percent Index higher and higher.

This should give at least a short-term repreive to the U.S. equity markets, but it won't last long. 2008 is shaping up to be an ugly year for the U.S. economy (despite what President Bush might say in the State of the Union address tonight).

Watch for the EUR/USD to continue moving higher.


Also, check out the FREE videos, commentary, technicals, fundamentals, charts and education on our site (everything we offer is totally free):
http://www.pfxglobal.com/
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