Monday, November 12, 2007

Dow coming close to 12,845

The PTI closed right on its moving average.

Lowry's statistics continue to deteriorate with Buying Power at a seven month low.

If the market is down tomorrow, the PTI will almost surely deliver a stock market sell signal. The Dow closed today just 142 points above a Dow Theory bear market signal.

If the Dow closes below 12845.78, particularly on rising volume, then the primary trend of the stock market will be down according to Dow Theory. Looks like an interesting week ahead. Be very conservative here. Remember, in a bear market everyone loses but the winner is the one who loses the least.

From DowTheory


Blogger marinite2 said...

If you short the market, are you still a loser?

11:14 AM  
Anonymous Anonymous said...

But who sais that this is a bear market? The 50DMA is above the 200DMA for both $SPX & $DJI, and they are both trending higher.

10:49 PM  

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