Where are we? Here's my thinking: My position is that we will remain in a long term or primary bear market as long as one or both of the Averages -- Industrials or Transports -- are below their September highs. If the stock market is turning bullish, let the market prove it to us by having both Averages rally and close above their September highs. At this point, I'm a neutral observer, and I'm asking the market itself to identify the trend.
The September high close for Industrials was 13,596.93, for Transports 5215.97.
The stock market talks, and Russell interprets -- The Dow futures were down a whopping 175 points all during Saturday and most of Sunday. Russell interpretation -- the Dow slumped on the thesis that Romney might win, and if Romney were to win, he would fire Fed chief Ben Bernanke, which would also be the end of QE3. So ... Log in or subscribe to continue reading.
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