Wall Street technical analysts posited that if the Dow Jones Average closed down by 500 or more points, it was Katie bar the door … and lots more blood was to come.
Well Pilgrim, today it closed down 486 points after being down well over 700 points earlier in the day.
We may have dodged a bullet today … but no guarantees for next week.
Afterward: Stock market technical analysis succeeds only as far as other technical analysts believe in it.
STAND UP FOR THE BULLS!
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