Indicators lining up for possible market bottom this morning

Indicators are lining up this morning for the market to bottom. The Dow will hit its 200-moving day average and virtually every other oscillating tool is suggesting the market is tremendously oversold.

The S&P 500 and Russell 2000 have all also corrected to their long-term moving-average support levels. As with most major corrections, the averages have broken through or will break through them this morning, providing that additional fear investors feel when the market finally capitulates.

Noteworthy pundit Byron Wien, of Pequot Capital and long-time Morgan Stanley strategist, said in a CNBC interview earlier this week that his target for the S&P 500 is 1,600. Tom McManus, who has also developed a good long-term track record, upped his target for the S&P 500 not too long ago.

All told, fear has replaced greed. It is time to line up your wish list and start buying. Stocks Theflyonthewall.com has recently blogged about that investors may want to look at include National Semiconductor Corporation (NYSE: NSM), General Motors Corporation (NYSE: GM), Global Crossing Limited (NASDAQ: GLBC), Level 3 Communications Inc (NASDAQ: LVLT), AES Corporation (NYSE: AES), UAL Corporation (NASDAQ: UAUA) and Home Depot Inc (NYSE: HD).
Get the latest on cars and trucks
from GM and all brands at AOL Autos.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-24.922,902.31
S&P 500-10.571,341.38

Last updated: February 10, 2012: 04:23 PM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.54+0.37(+0.08)

Google Inc 'A'

605.70-5.76(-0.94)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.75-0.21(-0.34)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.13+0.13(+0.81)

Starbucks

48.78-0.42(-0.85)

Microsoft

30.455-0.315(-1.02)

Home Depot

45.33+0.06(+0.13)

Learn More About GM Cars

General Motors Brands:
Find Your Next Car

AOL Autos New Cars and Used Cars

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1328908989066 ms.