Even though the market closed higher today, it’s the first time in this downtrend that we have closed below 8000 2 days in a row on the DOW.
Many people discount the DOW as being irelevant today. Most say the S&P500 is the index we should watch. I agree and I disagree. I agree we should watch the S&P500, but I diagree that the DOW is not longer relevant to the market. It represents the largest industries in our nation and is more *sensitive* to the economic environment and thefore, many times, will foreshadow direction the market in general.
Anyway, today’s action is misleading and simply a pause … more selling is coming soon.
Trade With Confidence
