Dow sends unhappy Valentine. Read ’em and weep.

Posted on Feb 15, 2008 by in Letters

The big question of the moment amongst technicians is whether the low of January will be tested. Some say no, some say yes. We say that crystal ball gazing has never been anything but a way to get broken glass in your eye. We also say that from the December high a downwave pattern is developing, increasing the likelihood that the January low will be not only tested, but taken out. If the February high is taken out prices will return to the sideways pattern. Doesn't look likely.

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