Where is the Bottom to this Selloff?
by Todd BuntonMay 17, 2012 | Comments : 6 Recommended this article: (0)
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So far the old adage of "sell in May and go away" is ringing true once again. The S&P 500 is headed for its 10th loss this month, compared with just 3 days in the green. And since May 1, the index has shed -6.5%:
Uncertainty surrounding Europe is driving investors out of the market despite an otherwise attractive investment picture for stocks here in the U.S. But how much longer will this selloff continue? All of the familiar technical signals (MACD, RSI, Stochastic) point to a market that is oversold.
So is a relief rally coming soon? Or are we entering a new bear market? If so, then where is the bottom to this selloff?
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