Joe Friday: "Emotipoints Converge
as Margin Debt Hits Record Levels"
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Do the 1982, 2002, 2003 closing lows and the 1987, 1999 and 2007 closing highs have in something in common? Yes!
They are emotional extremes, Key highs and lows in the Dow reaching back to the time when President Reagan was in office.
Joe Friday: The "Emotipoints" converge in the Dow at (1) in the chart above.
The convergence of "Emotipoints" suggest this resistance is pretty strong in the Dow at the same time Margin Debt is near record levels and net cash available is near record lows!
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