Technical Analyst Tom O’Brien Says Market Has Bottomed; Predicts ‘Slow, Meticulous, Month by Month, Recovery’

CLEARWATER, Fla.--(EON: Enhanced Online News)--Tom O’Brien, the author of Timing the Trade – How Price and Volume Move Markets and editor of Market Insights, believes the stock market has found a bottom and is poised for a rally.

“On October 10th, we had volume of 3,283 billion shares. That compared with 3,023 billion shares on November 21st and 2,039 billion shares last week.”

“On a technical basis, we have had lighter volume associated with the SPDR S&P 500 (SPY) in each of the last three bottoms,” said O’Brien, who also hosts a radio show that is aired in a half-dozen markets and is available over the Internet at www.tfnn.com. “On October 10^th, we had volume of 3,283 billion shares. That compared with 3,023 billion shares on November 21^st and 2,039 billion shares last week.

“When the volume starts to dry up during a downturn, the heavy buyers start to emerge. They get progressively more aggressive.”

O’Brien also sites other reasons for a recovery.

“The Baltic Exchange Dry Index (BDI), which measures the cost to move freight by boat, came off its bottom in February, which means orders have started coming in,” he said. “The goods are being purchased to process those orders. This translates into more jobs in the future.”

Other supporting factors include Copper’s rise from a bottom of $1.28 a pound in December to its present $1.74. “This is being driven by demand. Other indicators include the fact that YRC Worldwide, one of the largest truckers in the U.S., is starting to made headway after bottoming out in November. Federal Express and Unites Parcel Services have come to life as well in the last week. There is work to do, but goods are starting to move. We have broken the downtrend from February.”

O’Brien suggests that the recovery will not happen as furiously as the market declines occurred over the last six months. Rather, it will be a “slow, meticulous, month by month, recovery. There will be a lot of doubters in the first few months. But a slow recovery is better, since it forces companies to make smart choices as they rebuild their work force.”

About Tom O’Brien

Tom O’Brien is a financial analyst and best-selling author of Timing the Trade – How Price and Volume Move Markets. In his book, which is available at O’Brien’s web site (www.tfnn.com), Amazon and other major book sellers, O’Brien teaches the reader where the supply/demand curve intersects in order to trade in harmony with the market.

O’Brien is also the editor of two newsletters -- The Gold Report and Market Insights -- and hosts two radio shows. The Opening Growl & The Tom O'Brien Show are broadcast live in the morning and afternoon, respectively. Each can be heard over the Internet and are accessible for free via an archive on the TFNN web site. In addition, the shows can be heard on the following radio stations: http://www.tfnn.com/current_stations.php.

For information about the company, visit www.tfnn.com or call 1-877-518-9190.

Media should contact Holt Hackney at 512-478-8858, ext. 115 or [e-mail].