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originally posted by: Generation9
a reply to: Slichter
Yes. Buy the dips. The 40-week system has shown us a signal. At Easter the cathedral at Notre Dame burned. Fire is a symbol of spirit. At Pentecost the Spirit filled the Disciples. In other words the market was filled with spirit at Pentecost. The DJIA has been up since then. From Easter down to Pentecost and then upward. The market is going up until January 19th. Then we will get another signal in the mainstream news.
originally posted by: Slichter
Dorian is parked 110 miles east of Mar a Lago with a forecast track that will barely water the lawn.
Despite what the global warming experts think ,Dorian may wind up again as he gets out over the warm gulf stream and that keeps all the energy offshore.
Just started looking at the financials again didn't mean to ignore the thread.
40 week average can't return above 27,000 for the Dow Jones without another rally.
Currently down 3.6% below the July highs which isn't too bad, but is it the top of a new trading range?
The May correction was followed by new highs so technically you can't rule that out again for October.
Are traders worried about a 2020 recession or are they getting to celebrate a half point rate cut?
I'm not gambling my August cash gains until we get a better read, certainly not going to try and short a Dow rally to 26,700..