closest to the pin at close 24-7-09

my call red -31pts

Well I am gob smacked to think we are at these levels at this point in time.

All the signals are pointing to a new bull market, so why are we all suspicious.

DOW futures was down for most of the day 26 to 35pts, now its 1 point up.

Dow Theory - Confirmation

Dow split industrial stocks and railroad stocks into two separate averages. His theory requires that movements on one average be confirmed by the other:

* A bull market starts when a bull trend on one average is confirmed by the other average commencing a bull trend.

The Railroad average has declined in significance over the years and the Dow Jones Transport Average is now used in its place.

http://www.incrediblecharts.com/technical/dow_theory_confirmation.php