06/13/2002 Archived Entry: "Economy: recovery, reversal, and rebound?"

The Fed picture is not bleak, but nor is it encouraging:

UPI: It is an economy, let us recall, that was widely predicted, late last year and early this, to recover strongly. The Fed's report, released today and covering conditions mainly in May, gives a picture of a recovery fading so fast it may soon not be visible at all.

The astro outlook is decidingly bullish, with a reversal upcoming according to Merriman:

Merriman: And now the geocosmic landscape begins to turn, from Saturn-Pluto opposition and the fears of danger and increased economic problems, to Saturn-Uranus trine, and the process of steadily building a safer world, and a more secure business climate.

The charts are starting to form a reversal here, and the NASDAQ could bounce off of their September lows, making the case for a double-bottom being placed. The DOW could just as easily slide over into new lows. I am skeptical as to the LT prospects, but have little doubt that Wall Street is capable of pulling off a short-term reversal if they want to here.