Well, that didn’t last long.
Thirteen days after I predicted we’ve seen the stock market bottom of 7,949.09, the Dow Jones Industrial Average dips under it at 7,936.75.
Only 12 points lower, but lower still. It’s the new low for 2009. Dare I suggest it won’t close lower the rest of this year? I do think we’ve seen (something close to) the bottom this year. I maintain we’ll be higher on January 1, 2010 than we were on January 1, 2009. (That would be anything aboveÂ 8,776.39, or 839 points to the upside. Whew.)
Of course, it just might be easier to test the 52-week low of 7,867.37.
But ya gots to be optimistic about something in this world.