Most indexes reach new highs

November 2004
Dow Theory Forecasts;11/15/2004, Vol. 60 Issue 46, p3
The article discusses aspects of the stock market's primary trends. The Dow Theory's primary objective is determining the direction of the stock market's primary trend. In determining the primary trend, the Dow Theory looks exclusively at the action of the Dow Industrials and Dow Transports. When both averages are reaching significant highs, the primary trend is bullish. When both are reaching significant lows, the trend is bearish. When the averages are not confirming each other, the Dow Theory's last indication remains intact.


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