As of June 10, the Dow has suffered the “longest losing
streak since the fall of 2002. The market’s last seven-week stretch
of losses began in May 2001, as the dot-com bubble deflated,” reports The
Associated Press.As for why stocks are falling, most observers agree: Blame “weaker
hiring, industrial output, and a moribund housing market.” The
economic reports from the past two weeks made that clear.
This
article was syndicated by Elliott Wave International and
was originally published under the headline Six Straight Weeks of Decline Take DJIA Below 12,000: What Now?.
EWI is the world’s largest market forecasting firm. Its staff
of full-time analysts led by Chartered Market Technician
Robert Prechter provides 24-hour-a-day market analysis to
institutional and private investors around the world.
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