A good debate is healthy, but arguing against uninformed nonsense is not so constructive.... so back to the future: Monday.
And the influence there will be last night's Dow movement.
My Dow chart showed it wasn't likely to submit to a downturn last night... and it didn't.
But more importantly, it powered on in the face of the worst unemployment figures since the 1974 recession. And also most importantly, the 533,000 added to unemployment was well above 350,000 predicted. So Wall Street took a nasty shock in its stride.
The Dow needs to spring to 9000. It's broken upside of its bullish down wedge, it's snuck its head above the trendline to sniff the breeze, and it appears to have broken out of its uncertainty triangle.
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