Last Tuesday the NASDAQ made a low that created an 8.26% correction measured from the February 26 2021 high. It spent the next three trading days trying to take out the Tuesday low and it was not able to do so. The DOW and S&P 500 both experienced less than 4% correction measured from high to low. Much of the
Now the laggard DOW has gathered strength and closed at the upper channel line on the weekly chart. The weekly oscillators have turned up and is getting ready to march with the rest of the indices. The pundits are calling for the market valuation is too high, but the treasury sectary Yellen and other members of FOMC have been openly stating
In the last few weeks we have blogged about the possibility of a 5-15% correction. When the market had its first swing down for about 4%, we were skeptical about the shallow correction and we were waiting to add more money into the second swing down. However, the super strength in the last two weeks made us believe that the correction is done!
