The Dow jump today
Oct 28th, 2008 by Casey
This is a bit off topic but the Dow Jones Industrial average jumped nearly 900 points today mostly in the last 2 hours of trading. While this is good for everyone that is currently worried about their 401K’s I would caution that things may not be as they appear.
Take a look at this pic from from the early 1930′s to see how the market performed then. The market went up about 10% today and if the chart below is correct we could assume we could see another 15% jump before we start the downward trend again.
Hopefully for those who are dependant on their 401k’s this chart is nothing but ‘old news’.
If you are curious what the Dow looks like adjusted for inflation over the last century take a look at this or this if you think there is someone behind the curtain.
While there are some weird coincidences, especially with that last link I would have a hard time believing that the market is manipulated in a certain way. Who does this benefit?
While I agree its tough to make the jump to conspiracy I do think that ‘the market takes a life of its own’ talk may be more accurate in that the natural ups and down of the market float within this natural range.
So where do you think the market will be go from here?