Traffic is bound to be quiet the next couple of weeks, but even on a Sunday, I feel I owe Slopers at least one market-related thought.
I took a look at the NASDAQ Composite with three moving averages, then I hid the prices themselves to try to get a sense, historically, where we were in the market. The explosive rebound we've seen makes it feel much like the end of 2003, just using the moving averages as the guidepost…….
Looking closer at 2003, we can see how it slouched into weakness for most of 2004:
Will the same hold true for 2010? If it did, it would look something like this: