Rally in Progress
It's always fun to catch market swings at their precise turning points and though I am very late in posting anything about the recent low, I've been kind of busy trading the low instead of writing about it. It does look like this rally will sell off a bit here, but the rally that began at 12,500 in the Dow is a classic setup for an extended rally to follow. As a general rule I use a series of technical charting indicators and a checklist, or book, which ranks probabilities as an actuarial. You'll see what I mean once you see the charts.
What say the Motley Fool Crowd of this early rally phase?