The Dow Jones Industrial Common’s
767-point tumble in afternoon buying and selling Friday, to interrupt down beneath the June 17 closing low (29,888.78), not solely confirmed that the bear market was alive and kicking, it additionally triggered a promote sign primarily based on the century-old Dow Principle of market evaluation. The Dow’s recent low, coupled with a sequence of decrease closing highs for the reason that Dow’s Jan . 4 file shut of 36,799.65, confirms the Dow Principle’s definition of a downtrend, a unbroken sample of decrease peaks and decrease troughs. And for the reason that Dow Jones Transportation Common
already closed on Sept. 16 beneath its June closing low, the Dow industrials’ new low completes a “promote” sign. And as MarketWatch contributor and founding father of Hulbert Rankings LLC has written, the Dow Principle, regardless of its age, has been beating the broader inventory market for a very long time.
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