In mid-July 2007, the Dow Jones index made what appeared to be an important top, as you can see from the chart below. Naturally, this gave rise among the usual TV pundits to pessimistic perceptions of the US economy, the long-term impact of the war in Iraq, and so on.

In mid-July 2007, the Dow Jones index made what appeared to be an important top, as you can see from the chart below. Naturally, this gave rise among the usual TV pundits to pessimistic perceptions of the US economy, the long-term impact of the war in Iraq, and so on.