Lets look at the forest, not just the trees
I thought this might be a good time to look at the bigger picture for a minute before we go into the 3rd quarter Monday. Overall, I think the correction we've endured the last couple months has ended and we are headed back up.
|DJIA Weekly chart|
|DJIA Weekly Score|
Combining these facts with the knowledge that my favorite Elliot Wave counter has also come to the same conclusion, I feel good about our prospects for the rest of the year. Longer term investors could probably get in here and be happy come December... as long as that whole fiscal cliff thing gets taken care of.
Here's wishing everyone a successful second half!