High Bottom?

Those who were bullish on both the stock market and the U.S. economy took new hope last week. As the week opened, the market gave investors a bad scare. The Dow-Jones industrial average skidded to 161.60, right through the critical level that many a chartist thought would indicate a full-grown bear market. By such charts, the market should have kept going down. Instead, by week's end, it bounced right up again to 163.78. The market showed enough bounce, in fact, to make some Wall Streeters wonder whether, after months of sliding, it had finally reached its bottom. No one...

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