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Dow Rally Signifies Absolutely Nothing

By: Rick Ackerman, Rick's Picks

 -- Published: Friday, 13 March 2015 | Print  | Disqus 

Naturally, with the Dow up 260 points yesterday, traders were wondering whether it meant something. The answer is no, it did not — at least, no more than, say, an announcement that Krispy Kreme had figured out a way to make a tasty creme-filled donut with fewer than 150 calories.  Technically speaking, one could infer that the rally was bound for 17991 when the closing bell brought a temporary end to the day’s silliness. No one who’d been on the sidelines Wednesday night could have made money on the move, since most of it happened on a gap-up opening in the first few minutes of the day.  A finishing stroke to the target on Friday could be over in a blink as well if the Dow has to play catch-up with index futures. As of around 8 p.m. EDT they were trading slightly higher, but that could change if traders catch a whiff of something savory going on in Asian or European markets. Take a free trial subscription that will allow you to access not only the touts, bulletins, updates and impromptu trading webinars during market hours, but a 24/7 chat room that draws veteran traders from around the world.


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 -- Published: Friday, 13 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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