While breaking to a new 52-week high, volume on the climb was less than 200 million shares.
This is a very dangerous market. It is floating up with little resistance, not charging like a bull.
I feel like it is 2007 and I am warning about real estate as it put in its final upward kick.
This being Thanksgiving week, trading will become more and more erratic as traders head off for the holiday, and just a few remain trading. Anything can happen, and it won't mean a thing next Monday.
Robert - the market is always dangerous. The DJI started rallies on low volume on or about April 20, September 1, October 2, and October 30 during 2009 alone. After each of the first three of these rallies it made a small correction and then continued up. Will it do so again? I don't know.
ReplyDeleteThe FED's manipulation of the money supply is an important factor determining the direction of the economy and the DJI. But it is not the only factor. Despite your enlightening fundamental analysis, anything can happen, and it won't mean a thing tomorrow...Thats the nature of human action and human psychology.