Interest Rate Roundup

Thursday, August 02, 2007

Dow 1998 ...

Here's a chart of the Dow Jones Industrial Average, circa mid-1998. You can see that we had an early-year rally, a period of consolidation, then what appeared to be a breakout to a new high in July. But it couldn't hold. The Dow dropped back down into its old range, then below it. After a period of consolidation that lasted several days, it gave up the ghost into the fall as Long-Term Capital Management blew up ...


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