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Richard's Remarks


Musings -- On the basis of my interpretation of Dow Theory, I called a primary bear market in early May, 2012. After that the Averages plunged to lows recorded on June 4, the Averages then rallied.


I said if the Industrials and Transports could rally, and both close above their May peaks, then I was probably wrong, and that I would have to take back what I said about the existence of a bear market.


Well, three months have elapsed since early May, and the two Averages have still not closed above their May peaks.


Whether we are in a primary bull or bear trend is of critical world importance. For this reason, I'm now going to put myself and the whole picture to a new test. So the question -- what would it take to re-confirm that we are in a primary bear market?


For a definite re-confirmation, I would want the ... Log in or subscribe to continue reading.

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