Dow Jones 13,252. Not All Clear Yet
Last Friday I wrote that the Dow Jones was Ready for Next Leg Down. I said that “barring a surprise move from the Federal Reserve next week, the next meaningful movement for the Dow should be below 12,5000“. Today we had the surprise move and the Dow rallied almost 300 points.
I will add here two notes of warning. First, the surprise move is non-existent, so this 300 points rally may reverse by Friday. Second, if this move does not continue tomorrow with a close above 13,260 it will reverse by Friday or Monday and the next move will continue to be down to below 12,500. Hopefully, the Short Term Bear Fest that I announced in October 12th was starting, is coming to an end. Unfortunately, if it is already coming to an end, it is because of speculative hopes and increased liquidity, which will bring us tons of problems two years from now.
This article is part of the series "Exercise in Market Timing"
- Expect increased volatility
- And we got increased volatility
- Bad News For the Dow (Short Term Bear Fest)
- Dow Jones 400 to 600 more points of pain
- After exiting two weeks the Dow Jones goes nowhere
- Dow Jones at 13,300.02
- Dow Jones at 13,099 should see a rest
- Dow Jones Finds A Convoluted Way to Do Nothing
- Dow Jones Ready for Next Leg Down
- Dow Jones 13,252. Not All Clear Yet
- Dow Jones: Announced 2-day Pullback Over
- Timing The October High And November Bottom Of Dow Jones
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One Response to “Dow Jones 13,252. Not All Clear Yet”
November 30th, 2007 at 9:01 pm
[...] days ago, I wrote Dow Jones 13,252. Not All Clear Yet. I said "the surprise move is non-existent, so this 300 points rally may reverse by Friday. [...]
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