Deeper and Longer Market Correction Feared, as Financials Fall

Goldman Sachs Group, Inc. (NYSE: GS), Bank of America Corporation (NYSE: BAC)and Morgan Stanley (NYSE: MS) are all trading lower today raising doubts as to whether the major market indices can resume their rally any time soon.

It appears these stocks, Goldman Sachs, Bank of America and Morgan Stanley are telling of the financial sector technical failure which will drive markets and stocks across the board lower to a deeper and longer than expected correction, we think it can last between 2 and 6 weeks before the major uptrend (which remains intact) resumes again. Historically speaking, markets tend to resume uptrends on the weeks leading up to Christmas holidays.