I laid out a probable course of events for the markets on May 18, and the markets appear (at least so far) to be cooperating with that thesis.
|Indice||High||Low||Close||Hi to Low||Low to Close|
Here’s a look at a few indices to see how that is playing out:
Nasdaq: High of 2378.32 down to a Low of 2135.81, with Friday’s close at 2219.41.
Dow: High of 11670.19 down to a Low of 11030.47, with Friday’s close at 11247.87.
SPX: High of 1326.70 down to a Low of 1245.34, with Friday’s close at 1288.22.
Russell 2000: High of 784.62 down to a Low of 696.06, with Friday’s close at 737.45.
Lets see how this all plays out next week . .