6500 DOW Projection

2oversold.com has a current projection that the DOW will need to test the 6500 level before there will be any major or sustained rally. We know this sounds harsh and to some ridiculous but it is the opinion of this site that the U.S. Economy is in much worse shape than is currently being reflected in either the numbers or the market.

This does not mean that there will not be individual companies and situations that will continue to perform well or even better than usual. There will be many companies who will see their stocks outperform the market. For this reason we believe this to be a “stock pickers” market instead of a sector or specific commodity.

I hope this projection is wrong. I would like nothing better than to add to this post in a few days saying, “I was wrong, I think the market goes up from here” but right now I don’t see that happening.

This projection is made solely by 2oversold.com and in no way should be considered as anything other than topic discussion for this site and 2oversold.com opinion of a DOW test point.

There is no one associated with 2oversold.com that is qualified as a professional in any aspect of the stock market nor qualified to give financial advice.