sucker rallies
As I write this the DJIA is above 7000. It may get as high as 9500. But what we are in the midst of is not a typical recession and it's global. I expect more volatility and perhaps a new low close to 5000. For the main I think we are in for a long sideways ride to nowhere. If you call up a chart of the DJIA please note that for the 17 year period from 1965 to 1982 the market just went sideways. I'm not predicting that will happen again but on the other hand I don't see any driving force that will take the market higher.
If you take a long term chart of the DJIA and ignore the upswing of recent years and just extend the long term trend it will take you to 5000.
If you take a long term chart of the DJIA and ignore the upswing of recent years and just extend the long term trend it will take you to 5000.
