By Richard Russell
I suspect that the current trading range is masking a huge coming move in the stock market. The stock market is always telling us something, and over the past few weeks it’s been telling us to be patient. The stock market reminds me of a caged tiger that is dashing from one side of the cage to the other. Today it certainly looks like the tiger has crashed against the weak side of the cage.
One hour before the close, the DJ Industrials are down 40 and the Transports are down 87. The Russell 2000 small-cap index is down 3 and the DJ Utility average is up 1. Adding weakness to the picture, the Nasdaq is down 12. Across the board, momentum seems to be veering towards the downside
On another subject, I've wondered why I’ve outlived most of my friends. It’s increasingly lonely as I approach July, at which time, God willing, I’ll ... Log in or subscribe to continue reading.