Friday, December 17, 2004


As predicted yesterday, the Dow closed lower, 55 points lower, in fact. If today was an indecision day, the target for this upmove would be 11000, about 300+ points from here. I still can't bring myself to think the market will continue to move higher. I don't place much regard to volume, but today was a higher volume day then we've seen recently. The fundamental reason (excuse) is that funds are locking in their yearly gains now. I don't know if that's true or not, and really no one does, but yesterday might have been the high for December. I don't think we've ever seen a big sell-off around Christmas, and unless there's a dramatically bad event, I don't think we'll see one this year either. The Dow will probably just move a little each way next week.

0 Comments:

Post a Comment

<< Home