Greetings again from Red Rock, where blogger’s guilt compels me to do another post. (Many popular bloggers do one post a day, tops, and I get jumpy if the latest post is more than a few hours old. That’s just how I roll.)
The Dow Jones Composite (which is the Industrials, Utilities, and Transports, all mushed together) is, as I said in yesterday’s post, “tightening and narrowing”. The fall on Friday took it right down to support. What I want to see – – what I really, really, reallllllllly want to see – is a break of that trendline, because it’ll be the first break of that wedge ever. I would be giddy. And that’s really what all of us want, isn’t it? (more…)