Bulls are Running but for How Long?
The bulls are running on Wall Street but the breadth of the market in the move since November 4 has been weak. Friday was a great example. The DJIA was up 142 points with advancing and declining stocks dead even on the day…1496 up, 1529 down.
So this fifth wave up from March 2009 began in February and is now 10 months old. In March 2017 this market will be a Fibonacci 8 years old. We are at the top of this country’s greatest bull market.
This final cycle wave V started in 1982 with a huge upside explosion. As of Friday’s close the DJIA is up 18,979.93 points or 2,543% from the August 12, 1982 close of 776.92. Continue reading
