Quick note: I was catching up with Richard Russell's Dow Theory Letters last night, and Russell made prominent mention of the fact that the Dow Transports and Dow Industrials had both moved above their previous June highs, thereby signaling a bullish confirmation under Dow Theory.
Prieur du Plessis at Investment Postcards has more to say about the Dow Theory bull market signal.
Those who've followed this blog for some time know that your author is an interested follower of Richard Russell's newsletter and a student of Dow Theory, but certainly not an expert in this area.
Excellent introductions to the subject of Dow Theory can be found in Victor Sperandeo's book, Methods of a Wall Street Master, and John Murphy's Technical Analysis. You may also wish to consult the original works of the Dow Theory pioneers (Hamilton, Rhea, etc.) listed in Russell's historical overview.
Related articles and posts:
1. New bull market? - Tim Wood at Financial Sense.
2. Charting the markets: S&P 500 - Finance Trends.
3. A rally with serious muscle (?) - Finance Trends.
Friday, July 24, 2009
Subscribe to:
Post Comments (Atom)
2 comments:
Hi David,
In this post you indicated very interesting stuff like the article of TIM W. WOOD which gives us answer if this means a New Bull Market has begun.
John Murphy's "Technical Analysis of the financial market", which you signalled, is regarded as the standard reference in the field.
Thanks for the feedback, Giorgio.
It will be interesting to hear what Tim Wood has to say in his next FSO commentary; I remember that he & Russell had a difference of opinion on some of the Dow Theory signals & their meaning in the recent past.
Post a Comment