Market outlook 2 August 2011 : NOT good

While the market started to look toppy late April - early May, now the S&P 500 is confirming a head & shoulders pattern. That means we should expect a market correction. Translation: this may not be the best time to invest in an IPO.

Personally, I am going to wait till the black MACD line crosses the red one, as in "A".

update more than 3 years later: