Thursday, September 24, 2015
We are testing initial support of 16,000 on the Dow Jones. If we break though 16,000 then the next level is 15,750.
The market is floundering and most of today's sell off is due to poor earning report from Caterpillar.
As I said in my last video blog, earnings will be the key. If a company misses the market will punish. Remember what I said that the markets are a 6 month leading indicator and as I said we could be in for a recession in 2016. High dividend paying investments will be more defensive. The checks are still coming and while its unnerving hang in there.