A trader studies a graph on a screen. (Photo:Alexander Natruskin/Reuters)
This line from last week’s column is important to note right at the outset. “…while there is evidence of some lows being made, the pace of advance may be quite slow and may even suffer repeated retests of the low. So, we should expect a choppy market that attempts to create higher bottoms ahead as it builds up for a bigger move.” Now, why is this important? Because in the last column we had called for a low to be getting into place. ...