SwingTrade Member Forum

[Rawnoc]

Ignorance is bliss, baby.

Posted by: Wizard Date: Wednesday, July 01, 2009 3:08:46 PM
In reply to: Rawnoc who wrote msg# 201947 Post # of 205306

DOW is about 8500, 1500 away from 10,000. It has made no headway so far half-way thru the year. See chart below. Sideways. There is no uptrend. It is premature, even ignorant, to think the DOW is suddenly in an uptrend because it goes up 100 one day. Lately it has been sideways, up one day and down the next. Typically the markets are slow in the summer, so I would not expect a move until the fall. I think we will trend down from now until October, with a low in the mid to upper 7000's,