Still Fiddling On The 30MA Line...

The Dow corrected back down by 125.35 points last week, back on top of the weekly 30MA line. The Dow has been fiddling right on top of this critical support line for the last 3 weeks, is this normal? Well, I must say it is normal. Looking back at 5 March 2007, the Dow demonstrated almost the exact same behavior of correcting down to the 30MA line and then fiddling right on top of it for 4 weeks before the rally actually begins. Will we get a rebound on Monday like we saw back on 29 August when the market ditched on 28 August.... just like it did last Friday?


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