The Ongoing Bear Market May Find Support Soon

Alright, we are piling up paper losses and it seems like there is no end to this downward spiral.
Looking at the S&P500 chart, i see a hint of some near term support. Should the S&P500 index close at or above 1120 within the next two weeks, I would expect this point to be the bottom and we could see a turn around of the markets.
Look for stocks in the heavy construction sector to be the leaders in this cycle. Some of these candidates are: Granite Construction Inc. (GVA 18.20), Terex Corp. (TEX 14.32), Foster Wheeler (FWLT 21.40) and KBR Inc. (KBR 27.26) to name a few.
Extreme caution should be taken before going "all in" at this time, we must be very selective in our choices.
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Is GVA Ready for a Bounce?

Always searching for value, I like to consider beaten up stocks as mid to long term investments.
Granite Construction, Inc. (GVA) appears to be promising adequate returns in the coming months.

GVA with its subsidiaries, operates as a heavy civil contractor and a construction materials producer for public and private sector clients in the U. S. Some of its projects include construction and improvement of streets, roads, highways, and bridges.

GVA is selling today at about 33.10, 55.6% below its 52 week high; an average daily volume of 888,000 shares, a P/E of 12, insider buying over the last 6 weeks, and may be ready to break above the 50 day moving average (now at 34).

Time to focus on companies that would benefit from an infrastructure upgrade surge which many states, cities and municipalities are in dire need.