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Bill le Breton

Opinion: And there was no more sea … (Revelations 21:1)

By Bill le Breton | Wed 10th March 2010 - 1:15 pm

Have a look at this cutting I found from the Wall Street Journal, 2nd March:

Market has encountered resistance since hitting new highs Tuesday, natural in view of the sweeping rally up to then. Previous pauses in early Jan. and mid-Feb. were followed by renewed rallying; evidence this is a similar period of consolidation seen in pattern of declining volume on recessions, indicating line of least resistance remains upward.

With the Dow today on 10,500 and the FTSE around 5,500, are we moving onwards and upwards towards a recovery?

Nope! The date line on that cutting was 2nd March 1931. That’s about …

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