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
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