“A bounce at the open ahead of ISM Manufacturing report, which the Street is hoping will post its 6th straight increase. ( 10 o’clock). I suspect the market will sell off after the report with the DJIA breaking 10,000 and S&P 500 breaking 1072.
We should give the market another day or two to conclude whether we are still in “technical” correction. At this point, it doesn’t appear Friday’s GDP surprise was enough to trigger strong enough institutional buying to turn the market…”
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About George Brooks:
George Brooks started in the investment business as a stock broker in 1962 and quickly gravitated to the research end of the business, first undertaking his own vast study of fundamental and technical analysis, then taking a position as director of stock market and economic studies for a leading money manager and publisher. In 1973, he formed his own firm to provide daily market timing and stock selections for two regional NYSE member firms, as well as special situation research and written analysis for leading investment advisory publications.
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