Tuesday, March 22, 2005


Dow, Nasdaq And S&P Head Lower

The good folks at Elliott Wave International made a good point this afternoon. While everyone has been concerned with rate hikes and earnings reports, the major indices have turned decidedly lower.

"(In) the past two weeks the Dow, S&P 500 and NASDAQ are each down more than four percent. In fact, the NASDAQ is now off more than seven percent on the year." As the Wavers are always quick to point out, the market doesn't wait for central planners to give it direction.

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