With the 44 point move up in the Dow today, it confirms that there will be a run up for a week or two before a drop. This up move comes with a record price of $58+/barrel in oil, so the market really, really wants to move higher at this time. Fundamentals can't explain it. This very overbought market will have this run, then may see a significant down trend.
Saturday, June 18, 2005
With the 44 point move up in the Dow today, it confirms that there will be a run up for a week or two before a drop. This up move comes with a record price of $58+/barrel in oil, so the market really, really wants to move higher at this time. Fundamentals can't explain it. This very overbought market will have this run, then may see a significant down trend.
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