Mark J Lundeen
Nothing much happened in the stock market this past week. The Dow Jones managed to stay close to its BEV -2.5% line for the past six days. Though there were a couple of days that saw the venerable index declined into the triple digits, but...
The Dow Jones Index had a good week. Early on it was at risk of declining below its BEV -5% line in the Bear’s Eye View chart below. That didn’t happen; instead, at the end of the week the Dow closed above its BEV -2.5% line. For a week...
The Dow Jones Index and the general stock market look weaker by the day. Today, for the first time since October 2008 a Dow Jones’ 52Wk High expired after its 52 weeks passed it by.
If you’re bullish on the stock market, you should notice the Dow Jones’ BEV plot below has been trending the wrong way for the past month. At week’s end the Dow closed 4.24% below the red BEV Zero Line; 4.24% below its last all-time high...
When I last published this Bear’s Eye View of the Dow Jones Index a few weeks ago, it appeared the Dow Jones Index would be making a new all-time high sometime in early May. On April 20th it was only 1.18% from last May’s BEV Zero, or the...
I intended to take a few weeks off. However, as the Dow Jones Index closed the week up only 1.69%, just three hundred points from making a new all-time high, I was motivated to make a few comments on the stock market.
Nothing significant happened last week on Wall Street. The Dow Jones chart below looks identical to the one I could have published last week. And as we haven’t seen any days of extreme market volatility since March 1st , the Dow Jones’...
The gold market has been under considerable pressure recently from the “policy makers.” Gold’s step sum has dropped a net of six down days since March 7th, but despite all that selling, the price of gold has been holding up pretty well.
Some positive developments for gold at the COMEX need to be noted. Since January 29th Open Interest surged 137,249 contracts (Blue Plot) without retarding the advance in the price of gold (Red Plot) as much as it would have in the past.
Boring is how I’d describe the stock market last week. The last day of extreme market volatility (Dow Jones 2% day) occurred on March 1st and we haven’t seen a day of extreme market breadth (NYSE 70% A-D Day) since January 29th. However...
