According to the Dow Theory Bear Market signal, if BOTH the DJIA and the DJ Transportation average fall below the August lows then this in itself could be the indicator for a Bear Market signal.
At the moment, the DJIA is at 13300 which is 454 ABOVE the August 16 low of 12845
Transports closed at 4663.35, 9 points BELOW the August lows of 4672.35
A lot of people the US are waiting to see if the Dow confirms the signal before the real panic sets in.
What this means for the Aus market is not clear, but I would not want to be holding any shares if this signal has been confirmed. The US will take everyone with them. China may resist for a while but they will eventually capitulate. The US is still the largest economy on the planet.
thursday thrashing, page-59
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