[TSP_Strategy] Re: Buy Signal on the Dow?

 

The Dow Theorist I monitor who just turned bullish, Jack Schannep of TheDowTheory.com, believes that shorter and smaller market moves qualify, especially in today's fast-paced markets. He turned bullish as of Wednesday's close, when the Dow industrials closed above their April 1 high.

In contrast, the other Dow Theorist I monitor, Richard Moroney of Dow Theory Forecasts, argues that only bigger and longer market moves qualify as "significant." He is focusing on the stock market's highs from last November, and says that even surpassing those highs might not be enough to generate a buy signal.

FWIW, I don't believe that the Dow has turned bullish yet, but would agree that closing above the November high would be a bullish signal. (17,978)

That said, the S&P 500 (C fund) is currently at a high of 2087. For this index to flash the same buy signal, it would need to get to 2117, a 1.4% increase from where it is today.

The Dow Jones Completion Index (S fund) is currently at a high of 1013. For that index to flash the same buy signal, it would need to get to 1066, a 5.2% increase from where it is today.

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Posted by: sarah_oz@yahoo.com

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