Dow Continues Sideways...
No surprise today on this first full trading week of 2013 as the Dow retreats 50 points.
Rather than saying that its a negative day, I would actually call this a sideways day as the Dow merely traded sideways within the range set over the past few trading days. This is what I mean what I said the market is likely to trade sideways or slightly negative following huge single day rallies, so, no surprises there. In fact, we should still see a couple of days more of this sideways, slightly negative, movement before the Dow can muster enough energy to challenge the 13,600 points level. But challenge it the Dow will.
For now, the Dow remains in all out bull trend.
Rather than saying that its a negative day, I would actually call this a sideways day as the Dow merely traded sideways within the range set over the past few trading days. This is what I mean what I said the market is likely to trade sideways or slightly negative following huge single day rallies, so, no surprises there. In fact, we should still see a couple of days more of this sideways, slightly negative, movement before the Dow can muster enough energy to challenge the 13,600 points level. But challenge it the Dow will.
For now, the Dow remains in all out bull trend.
posted by Jason Ng at 3:05 PM
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