Retreat Begins...
Today's ditch came on the back of a better than expected jobless claims number (see Stock Market Calendar), further reinforcing the fact that it is a technically driven market right now. Markets become extremely technical driven when its bottomy or toppy. This is definitely an intermediate term toppy market where a lot of uncertainty and profit taking takes place.
For now, the Dow remains in a all out bull trend.
Chart of Dow Made Using Telechart. Want Your Own Charting Software? Download FREE Now!
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