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Is This the Start of the Market Dive?

Discussion in 'News & Current Events' started by InTheLight, Oct 15, 2013.

  1. InTheLight

    InTheLight Well-Known Member
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    Here is the one day chart of the DJIA. With no agreement in sight on the budget/debt issue, this could be the start of an epic slide.

    [​IMG]
     
  2. Crabtownboy

    Crabtownboy Well-Known Member
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    Lot's of 401K accounts are taking big hits.

    If the DOW breaks the major bull resistance line at about 14,700, then we are in for a very bad stretch. I do not see that happening unless the House Republicans decide to throw the country into a depression. I surely hope they are not that foolish.

     
    #2 Crabtownboy, Oct 15, 2013
    Last edited by a moderator: Oct 15, 2013
  3. thisnumbersdisconnected

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    No. It rose far Thursday and Friday quite a bit higher than it fell. And it is still 220% higher than it was in the midst of the Great Pretender's first year in office.
     
  4. InTheLight

    InTheLight Well-Known Member
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    I don't know what you mean by this. I can tell you that the DJIA is lower than it was on Oct 1st.
     
  5. thisnumbersdisconnected

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    And three days later, it was 120 points lower than it is today. So what?
     
  6. church mouse guy

    church mouse guy Well-Known Member
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    InTheLight, nice post of an interesting graph. My 2 cents--the market is not going anywhere because these little gov't shutdowns are really routine while the politicians haggle behind the scenes. What is propping the market up is inflation caused by the printing of so much money. Wall Street types are tickled pink at all the activity because of the broker's fees, etc. Right now the Fed is printing about 80 billion of month. The inflation is noticeable in food, gasoline, and the Dow Jones. Look for no changes for the time being. The Democrats are at sea on economic policy.

    cmg
     
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