Not sure I entirely agree about the Dow skankr. It may only consist of 30 stocks but how many people know that? Go anywhere in the world and people recognize Dow Jones as THE US stockmarket. Therefore it's a barometer of confidence/pessimism on the US economy.
Secondly it's the first port of call of big money. The Funds and Insto's deal extensively in the Dow and it's the big money that makes the market. So while it seems a very narrow selection I don't think that diminishes its influence in the marketplace.
Just my thoughts.
PS I'm not a Dow Theorist but I have a lot of respect for the work of Richard Russell.
PPS If I was a Dow Theorist (see above :) I might think that with the big rise in Dow Transports last night + a nice upward trend on my P&F Dow chart that we were going quite a bit higher on this run.
has the bear market ended ?, page-16
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$4.86 |
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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