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Dow’s decrease low triggers Dow Principle promote sign


The Dow Jones Industrial Common’s
DJIA,
-1.62%

767-point tumble in afternoon buying and selling Friday, to interrupt down under the June 17 closing low (29,888.78), not solely confirmed that the bear market was alive and kicking, it additionally triggered a promote sign based mostly on the century-old Dow Theory of market evaluation. The Dow’s recent low, coupled with a sequence of decrease closing highs because the Dow’s Jan . 4 file shut of 36,799.65, confirms the Dow Theory’s definition of a downtrend, a unbroken sample of decrease peaks and decrease troughs. And because the Dow Jones Transportation Common
DJT,
-1.83%

already closed on Sept. 16 under its June closing low, the Dow industrials’ new low completes a “promote” sign. And as MarketWatch contributor and founding father of Hulbert Rankings LLC has written, the Dow Principle, regardless of its age, has been beating the broader stock market for a very long time.

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