It looks to me as though some kind of a large top has formed during late-September and October. But the mystery (there's always a mystery) -- what could this "top" mean? We see the breakdown to 13,039. Ah, and here's the fascinating part of it. What could the market be telling us? Is the Frankenstorm symbolically hinting of our future?
We saw the Transportation Average crash over 100 points last week, and then the Transports came back as though nothing had happened. Strangely, in the face of the Transport collapse, the Industrial Average did nothing. In fact the Industrials actually rallied into the close. So what are we to make of all these strange moves? At the moment, I can't say that I can make anything definite out of the recent highjinks of the Averages. But I do note that volume on the NYSE is simmering down as we go along. And ... Log in or subscribe to continue reading.
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