What does it take to push the D-J Industrial and D-J Transportation Averages above their May peaks of 13,279.32 and 5285.97, respectively? I really don't know -- Honestly, I've never seen anything like it.
Below is the cumulative advance-decline line for the NYSE. It just hit an all-time new high -- But still, the D-J Averages stubbornly resist closing above their May peaks. I'm beginning to think there's something eerie about the action -- or is the venerable Dow Theory telling us something that is so serious and so frightening that we aren't yet supposed to know what it is? Are we really going over the "fiscal cliff"? Is the dollar's reserve status in doubt? The picture may be puzzling, but it's certainly interesting, and just a bit scary.
I'm depending more and more on GDOW, the industrial average for the whole world. I show GDOW on the chart below. I said ... Log in or subscribe to continue reading.
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