Shows exactly why we should not expect a simillar reaction from Gulf War2 as we got from Gulf War 1. The market is still not in great shape. Brandon
Nice graphic. Whether one takes a fundamental or technical approach, yesterday should not have come as a surprise. --Db
That is interesting, but technically the intermediate trend has turned up. The major indexes were overbought and now they are doing a retracement on less volume.
Good info, but one question. I don't follow fundamentals that closely (of course I pay attention because they affect the markets & trading) and have heard p/e numbers bandied about for the S&P 500 of about 15 or so. This contrasts to the table you presented showing a 2003 p/e of about 27. Help me understand this? Maybe one is a trailing p/e and one is a 2003 forecast p/e? Thanks.
did you miss the high volume breakout ? The best week in the indexes since 1982 ? That wasn't a mirage, its real.
True. But then volume dropped off afterward, price met multiple resistance on all indices at the same time that there were seven to eight record sessions. Volume on Friday was a little better, but advancing volume was unable to make higher highs. And, of course, there were the advancers and decliners. But, ignoring all that, price was unable to get past the last reaction high on any index. Therefore, there was no trend reversal. --Db
In the big picture, I doubt its going to amount to anything. We will go back down. But for now, its been a lot of fun. Brandon