Preface to this post: Due to a fairly busy schedule on Friday, I am composing this prior to the opening bell. Thus, the charts are accurate through end-of-day Thursday, but the general points remain the same.
One of the less-known index charts I look at is symbol $DJUSFN, the Dow Jones US Financial Index. Here is a recent daily chart, which shows Thursday’s explosive rally achieving nothing more than almost perfecting sealing the price gap from last week.
The chart of the last couple of decades doesn’t say “bottom” to me. Not even a little bit.
