Yeah, I'm a cynic. I'm withholding the cheering. Not until the price penetrates the 250-day SMA will I become enthusiastic.
In all fairness, I will note that the DJIA has made up most of the ground lost during the correction. And as usual, I will state that I am not currently trading in any market. This is sidelines kibbitzing on my part, nothing more.
Also note that the 2015 correction happened on the mere threat of an interest rate hike by the Fed. The current betting says the first rate hike will now take place around March 2016. Unless something fascinating takes place between now and then, we'll check the DJIA in Feb.
Thanks for stopping by. Cheers and happy reading,