Sunday, May 29, 2005


The Dow closed the week before the long holiday weekend with a paltry 5 point gain. The market could break down at any time now from this overbought level; the only thing that might prolong this uptrend is a sharp upward day. The chances of that are small, so I look for a down week next week (starting Tuesday, of course). I don't think it will get to the 10880 target I mentioned in earlier posts.

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