Louise Yamada: Dow May Hit 4,000
Monday, March 2, 2009 21:39
Louise Yamada is widely regarded as one of the top technical analysts in the business. She was a Managing Director and Head of Technical Research for Smith Barney and was the top-ranked market technician in 2001, 2002, 2003 and 2004.
In November, Louise stressed the importance of the Dow Jones holding the 2002 lows and warned of much deeper selling should those levels be violated. Both the Dow and S&P 500 have since taken out the old 2002 low and Louise was on CNBC today. “Now that the 2002 lows have given way we have further to go,” she says. “The first targets are 6,000 in the Dow and 600 in the S&P and the second target, I hate to say it, could be 4,000 and 400.”
You can watch the interview below.
Related posts:
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
Ali says:
March 3rd, 2009 at 1:05 am
wow I hope shes wrong this time but I can’t trade on hope,,,,,, i voted on hope and look where that got us
Prediction « The great escape says:
March 3rd, 2009 at 1:06 am
[...] Prediction Let’s admit it: we’re out of superlatives. Let’s kick of this morning with a beautiful prediction on the economic part. This is a free prediction, and as you may know, we’re not that bad with economic predictions, but don’t use them if you’re in a little bit of a famine situation right now. Dow’s in for a 5800 low before March 15. Then a little bounce would be welcome – no idea how long it will last, depends on Iranian and North-American security situations – after which the Dow could go well under 5400 (which is the ever increasing absolute low based on the The last Bear Market bottom (557 low, December 6, 1974) and The start of the “Reagan Bull” (776 low, August 12, 1982)) And please note, we’re being reasonable here. [...]
GRAHAM R. BARNES says:
March 3rd, 2009 at 4:47 am
The Hungarian knows! Nouriel Roubini, ( RGE Monitor.com), was actually too consertative
when he predicted global recession, March ‘08. Today, he is updating with declation
of colapse in global financial system. Regardless of what nations are doing, individually
and colletively such as the G9 banking reserves exchanges, economic decline is
accelerating globally rendering these combined efforts futile. Global destruction of wealth
often leads to political instability. As we know from the 20th century, War is often not
far behind. G. Barnes 08226, USA.