Recs
August 15, 2008 – Comments (1) | RELATED TICKERS: QID , MZZ , TWM
The market probably topped today and we are in a short-term market correction. I will add more later.
The Dow Jones made a bear market rally intraday short-term top on August 11, 2008 at 11,933.55. From the intraday low of 10,731.96 on July 15, 2008, this 1,201.59 rally 11.2% is pausing. We will probably see a retracement at least to 11,332. If this level doesn't hold we will probably retest the July 15, 2008 lows. The other major averages also made similar moves in the same time frames.
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