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My! That DOES Look Like the Beginnings of a Double Dip!

July 1, 2010

Chart forDow Jones Industrial Average (^DJI)

Doesn’t that curve from the low in April 09 to now look like a hill we just crested?  I can see why economists are finally talking about the real possibility of a double dip recession.  Especially when you look at the last part of that graph – from about November 09 to the present.  Those three bumps – with the middle one the highest point and the last one falling below the local valley in January – look an awful lot like a “head and shoulders” pattern.  This pattern is the kind that send technical traders (traders that base their bets on patterns in the charts) running for cover! 

But, of course, Obama and his economists say we are on the upswing and the worst is over.  Except for the jobs problem.  And the housing problem.  And the international economy problem…

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