Primary uptrend resumes.
Investors Chronicle - magazine and web content, October, 2007
Although The Trader is optimistic about the direction of the indices, he is taking a cautious approach in order to protect his hard-gotten gains. Marc Rivalland
The Nasdaq 100 executed a Dow-Theory secondary correction when it fell 10.1 per cent between 19 July and 16 August 2007. Dow Theory assumes that after the secondary correction is complete the market will resume the primary uptrend and eventually make new highs, establishing the signature of higher highs and higher lows that make up a bull market. And that is exactly what has happened.
The Nasdaq made new six-year highs on Tuesday 25 September 2007. Since it is more likely that the Nasdaq is leading the other markets, rather than ploughing a furrow of its own, one can reasonably anticipate...
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