Mark J Lundeen
Not much has changed with the Dow Jones or the broad stock market since the close of last week. Here’s the Dow Jones’ BEV chart below. I could have used last week’s chart.
At week’s end we find the Dow Jones Index with a bearish, picture-perfect head and shoulders technical formation. The left shoulder goes back to last April, the head in early July and the right shoulder at the close of the week. So, is the...
The close of the week found the Dow Jones -3.49% from its last all-time high of July in the BEV chart below. After weeks of the Dow Jones closing darn near the same distance from its last all-time high, this is getting pretty boring.
August 2019 is a tough market to comment on. All this week it appeared the stock market was successful in smoothing out the extreme volatility it’s seen in the past month. Then Friday (today) after just one tweet from President Trump on...
The Dow Jones Index closed the week down 5.38% from its last all-time high of July 15th, a month ago. But looking at the Dow Jones as Mr Bear does in the BEV chart below, with every new all-time high registered as a 0.0%, or BEV Zero, and...
This week the Dow Jones saw above average volatility, especially early in the week, but on Friday closed only 3.92% from its last all-time high.
The Dow Jones closed the week down 3.20% from its last all-time high. On a week where the FOMC cut its Fed Funds Rate by twenty-five basis points (0.25%), the Dow Jones deflated 2.59% BEV points from last week’s close, or down 707.44...
As I expected, after bouncing off the bottom of an 18% correction late last December, and a minor 7.5% correction on May 31st, the Dow Jones is losing steam as it began making new all-time highs in early July. Taking into consideration...
Coming back from a two week break I see the Dow Jones made four new all-time highs in the past three weeks. That doesn’t surprise me, nor will it if the Dow continues doing so for a good time to come.
Every bull market advance eventually sees its last all-time high. No one rings a bell when it happens, but from that point on things begin to change for the worse for the bulls.
