The Dow declined below its December low of 10,440.58 this afternoon 2 hours before the close. Under Dow Theory this CONFIRMS the weakness of the Transport index which had already done so.....may I add the Dow needs to CLOSE below that number to confirm.
ALL major indexes have fallen BELOW thier December lows, IMHO no matter what transpires here, that is a cry for help. It is telling us SOMETHING IS WRONG.
What is wrong? It might be unknowable at this time. COuld be unfunded liabilities like SS or MEdicare. COuld be IRAQ and the deficits. Could be 5 straight months of declining LEI's last year were telling us economy was slowing.
Could be telling us any number of things, and it is telling us BEFORE it is known. So you can choose to heed the warning, or do nothing.
I also use this site as a record of my comments and any call I might make, to keep record of how accurate or not my comments tend to be.
I think without continued stimulus, our economy cannot stand on its own 2 feet.
SO let's watch the close and see what happens. 10,440.58
Duratek
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