Over the past couple of days we have seen some interesting movements from the markets. While we still have a lot of ground to catch up before we are in the clear, there are still many significant points to come across in the near future.
If we look at a chart of the Industrial Average during the last year, here is what we see:
To me it seems like the dow is in the process of consolidating. Basically the dow will keep moving up and down in the sideways pattern until a breaking point: either up or down, obviously.
If we we move north past the breaking point, then it is a good step in the right direction. On the other hand, if the dow heads south, then that could mean we really haven’t fixed anything and look to retest the current bottoms again.
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