Another week has passed so we can look on the chart ... this time YTD performance
- if we look at the same period in Russel 2000 we can clearly see that DOW is the second from grand four which has passed the 'zero' line this year. Not a good sing for the future imo - more weakness will come now in the name of market wisdom : Sell the loosers , Hold the winners.
Last week - as I was expecting - began with more downside pressure on the markets , after the week end came we can assume that the some kind of wave 3 has found it's bottom or maybe it was just a part of wave 3 ... the pullback we saw/see is not the end of the selling imo - just some breather and more will come. The doubble top formation was activated and now we see comeback to the neck line. Just a quick reminder of 2014 performance :