The DOW has made higher lows and is now in the process of
pulling back to its trend line. This is consistent with a minor retracement
from modestly overbought levels.
Note that if Traders get a sense that the Fed may not pause,
or figures out that Oil still remains pricey, we may see more giveback of the
rally. This does not affect our expectations for the rest to grind higher
through November, and then . . .
Quote of the Day:
"The two most abundant elements in
the Universe are Hydrogen and Stupidity."
This weeks Barron’s has an interesting chart from Sy Harding. If you are unfamiliar with Harding’s work, have a look at his prescient 1999 book, “Riding the Bear: How to Prosper in the Coming Bear Market.” (Spend the $1.49 on used copy — its well worth it). Harding suggests that: “UNLESS I’M LOOKING AT the…Read More