Tuesday, July 21, 2009

dow theory buy july 2009 -- search of the day

someone from Holland arrived at Trend & Value via the following google query,

dow theory buy july 2009

this brought the reader to a post I wrote last week pointing out another minor non-confirmation between the Industrials and the Transports:

Monday, July 13, 2009
a bit of Dow Theory

well today the Industrials hit a new high for the rally, but without a corresponding new high for the Transports.

now this is the third non-confirmation since the beginning June. call them minor non-confirmations if you want, but the previous two certainly indicated something was awry in each case. we should give the Transports a little time to catch up here, but as it stands I don't see anything that constitutes a 'buy' signal that the googler seems to be looking for.

furthermore, I do not see a buy signal of any consequence coming along until both averages surpass the highs recorded at the beginning of the year, 3737 for the Transports and 9088 for the Industrials.