Monday, January 25, 2010

Is this the top?

US Stocks Fall Sharply; DJIA's Worst Week Since March

Dow Jones is almost back to where it was in October, on a week of trading. Did the recent correction in gold correspond with a blow off top in stocks? We've also seen the US Dollar Index spike upwards. Is this traders converting assets into dollars to cover long positions on shares? Also, the second peak in the DJIA during the "Great" Depression tracks about 10,500 on the Dow before it went on the 90% death plunge. Are we there now?

Posted by freemanphil @ 11:14 AM (1346 views)
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3 thoughts on “Is this the top?

  • Where we could be going. We just breached the 10500 that tracks the Great Depression crash and smashed back down through it.


    On logarithmic.

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  • mountain goat says:

    Teun Draaisma the European equity strategist at Morgan Stanley (famed for warning investors to sell equities in June 2007, just before the credit crisis) thinks the top is in or near. His reasoning “authorities have switched from “all out stimulus” to “let’s start some stimulus withdrawal”
    FT Alphaville

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  • Intermediate – yes , full retracement top – probably, top before the break of last years support low in March… perhaps. I’m not sure the last two charts show what you want feeman – you need more up to date ones.

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