The big news overnight is the Dow's new closing high of 8915, eclipsing Junes high and promising to fulfill the recovery so widely hoped. The big news we arent hearing in headlines is that despite Caterpillars quarterly statement at having lost only 66% of operating profit year on before items instead of 97% as previously anticipated, the Dow transport average is still well short of its June high. In line with DOW theory, both averages must make new highs to confirm market direction so we are no better off in understanding the market direction, than four weeks ago, and unless the DJTA claims new highs along with the DJIA there IS no recovery underway.
The big news overnight is the Dow's new closing high of 8915,...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 26,683 | 0.00 | 0.00 |