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What new highs?
Yesterday the markets surged upward, after super Mario announced that he would see to it that Italy and Spain get a deal similar to Greece by his buying an unlimited amount of treasury notes.
The S&P made new highs. But according to Market Tech Bill Erman, the most important index is the Dow.
The Dow tried very hard to exceed the highs made May 1 as well has the highs in August. But it missed making new highs by a very small amount. Why is this relevant?
Some market technicians would consider this a double or a triple top, if the market can not pass this point.
This would be typical for a September which is historically the down going month for the market.
The S&P made new highs. But according to Market Tech Bill Erman, the most important index is the Dow.
The Dow tried very hard to exceed the highs made May 1 as well has the highs in August. But it missed making new highs by a very small amount. Why is this relevant?
Some market technicians would consider this a double or a triple top, if the market can not pass this point.
This would be typical for a September which is historically the down going month for the market.
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