Tag Archives: vanguard money market
Approaching a crossroads! Stock prices tried to extend their New Year’s rally into a second week, but the energy suddenly died Wednesday afternoon and the market floundered into Friday’s close.
Blowoff! Stock prices snapped back this week on a combination of New Year’s optimism and hopes that the Federal Reserve’s credit-tightening campaign might end soon. Bullish psychology is clearly in control, and it could keep the rally going until around the middle of this month. As we look at our charts and our history books, though, the action bears a remarkable resemblance to the blowoff that took place in the opening days of 1973.