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Dollar Backing Off

By Richard Russell

 

Everyone in publishing is having a hard time.  Newspapers, magazines, and newsletters are competing with free information. Many of my old newsletter friends have dropped out. Stan Weinstein, Harry Schultz, and Joe Granville are memories. I haven’t heard from Jim Dines in quite a while and I don’t know if he is still publishing.

 

Turning to the stock market, the trend is in question, if indeed there is a trend. I’m using the position of the Averages in relation to the big numbers in an effort to detect the trend. As I write one hour before the close, the Dow is trading above its big number of 18,000. Transports are trading above the big number of 8,000 and the NASDAQ has slipped below the critical 5,000 level. My conclusion is that the stock market is range-bound, but my intuition tells me that all things being equal, it wants to go ... Log in or subscribe to continue reading.


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