What a difference a week makes in the investor world’s view of the markets. Just last weekend, the Internet world was quite bullish. Even the wise and savvy market analysts were encouraged and quite bullish for the week to come. However, last weekend my signals were telling me that the previous week’s rally was an aberration and that a pullback was imminent. So, last weekend I projected a pullback that should test the 1221 area, see http://alphahorn.com/2011/12/11/weekend-update-17/ . The pullback did indeed follow, in fact reaching a bit deeper than I projected to 1209. The question for this week is: has this pullback ended or, is there more downside ahead? I’ll provide my thoughts and prediction tomorrow in my subscriber weekend update.
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