After a huge run up in 2003, what makes the most sensein 1H 2004? Gary Smith (of the Street.com) thinks the recent action is pretty much exactly what the market needed, if its to keep moving higher.
Note that G is a pure technician, and approaches his trading from that perspective:
chart courtesy of thestreet.com
Gary notes: “While we’ve done nothing more than move sideways since last October, that’s exactly the kind of action the market needs in order to work off the early 2003 rise, and then form a base for another leg up.”
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.