
The weekly Dow closed down 10 points but the chart looks quite positive. The stochastics indicator at the bottom is again over 80 and the price bar is green. A target can be constructed from this chart of about 11270--higher than the 11100 I've measured on the daily chart. What could make the market move up 400-500 points from here? I don't know, but if a .8% monthly increase in the CPI (minus food and energy) can't make the market tank, like the action on Friday 2/18, the market will take any positive news and overvalue it, I think.
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