Tea-leaf of the day

Wednesday, June 08, 2005 | 0 comments »

A picture (below) that appeals to the Tobin's Q in this scribe. From chartoftheday.com:

Today's chart illustrates the overall trend for the Dow. Back in April, the Dow broke below its long-term uptrend (green line). More recently the Dow has retraced back up to the original trend. For the technical analyst, this type of retracement is fairly common if not expected. However, in the realm of technical analysis, the green line that was once considered support now acts as resistance. Stay tuned...

Hey, wait a moment - are fundies and techies agreeing on something?

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