RE: Not out of the woods yet...
Looks like the "experts" are now saying the same thing:
biz.yahoo.com
A few of the comments from the report:
Revisiting the lows is part of full recovery, they added, though they were uncertain about the likely timeframe.
''There is an excellent chance that we will get some sort of downside test of 7,200 within the next two to three days, but I don't think we have a chance for 7,000,'' said Ken Tower, technical analyst at UST Securities.
''Many V bottoms were not entirely and completely tested in 1994, 1989 and 1987,'' said Steven Shobin, technical analyst at Lehman Brothers.
''If there was a period of retesting, backing and filling ahead of us for a month or so, I think we could have a pretty good rally,'' Shobin added.
- Michael Coley
- i1.net |
