Most Dow Theory Letters readers are old enough to know that “like a broken record” refers to a vinyl (or older still - wax) disk that’s scratched and therefore skips on a phonograph, playing the same thing over and over again. This week’s commentary will sound a lot like a broken record, although that’s not necessarily a bad thing.
This week’s tune is about bullish stock markets and new highs. Last week saw new all-time highs in the Dow Industrials and Transports, the S&P 500, Global Dow Index, and EFA, along with new yearly highs in EEM, QQQ, XLK, and PALL – all of which have been and remain recommended buys here. The Dow Theory has uninterruptedly said we’ve been in a bull market for years, as has our own Primary Trend Index (PTI), which as of Monday was itself at new all-time highs. It’s a bull market in the US, and ... Log in or subscribe to continue reading.
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