The DOW is still trading pretty solidly above 10689, 50% 2004/2006, but again, another index sitting below the 2003 trendline. A break below 10689 sets up 10458 in a hurry, but if bulls manage to get the DOW back above 10920, all is not lost. Obviously, a flight to quality has helped the DOW more than others, but should the Feds pause or halt (which is becoming a very distinct possibility), that trade wil unwind pretty quickly and set up a rally in sectors that have been hurt the most in recent weeks.
This entry was posted
on Sunday, July 23, 2006 at 10:49 AM.
