Forecasting is a fun business. I got my latest financial Market Strategy update this morning from Raymond James. In it they forecast how the stock market may move this week. Key quote:
"While it looks to us as if the current wedge pattern has no "slant" (up or down), the DJIA is clearly coiling its way toward the apex of the wedge. In fact, this is the week the DJIA should either break out to the upside, or the downside, of said "wedge.""
Put more simply, they are saying the stock market could either go up or down this week. Later in the same memo they point out that the market could also move sideways.
I love it when a forecaster takes a strong stand:).