The november dip acts as a centre point in this analysis :
– A : jul-nov trend = broken
– B : aug-sep-oct-nov trend = being tested
– C : destiny if B fails. As you can read, I write destiny, not target. That tells you my choice between B and C.
Why C ? The Big Cap’s results are ok, but is there enough light at the end of the tunnel ? A lot of us are afraid that beating 09 2Q isn’t that easy and we take profits ? 09 performance of companies was because of cost cutting, not increasing sales; can’t keep on cost cutting, so if 10 sales won’t increase, profits won’t be better than 2009 ?