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NE IOWA/ SE SD | I drew up a chart on the dji early this morning pulling a figure out of the air, I figured it would fall 500. Brought up a monthly chart for the DJI and figured with a long rally that started march 2003( 7416.64) peaked in october 2007 (14198.10) a 38% retracement would have been fulfilled at 11621.15, but the dow only got as low as 11634.82. So do you think the market saw that as a solid retracement, or do you think there is more blood to be shed.
My big fear is that if it is seen as a retracement how much money is going to be pulled out of grains to be put back into the stock markets. I hope the dow still closes negative today. | |
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DJI bounce back
