Crystal Balls and the Dow
Quote:
Originally Posted by
airedale
http://i474.photobucket.com/albums/r...9/DowJones.png
The records show that the first 5 days of the year...then so goes the year.
In 31 of the past 36 years the Dow's first five days of trading have predicted whether the market finished higher or lower for the year.
Thursday will be the fifth day of trading on the US markets, so we should know on Friday morning.
Well after the first five trading days on the Dow, the crystal ball gives a negative forecast for 2009.
It closed at 8,776 on 31/12/08 and closed this morning NZ time at 8,742.
Just 34 points short of the target.http://i474.photobucket.com/albums/r...aystrading.png