 &
TheDowTheory.com
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The following "Official" Detailed Record of The Dow Theory was compiled from articles in Barron's, early editions of Technical Analysis of Stock Trends, and elsewhere as indicated by the "Note" opposite each Signal, and explained in detail at the end of the compilation. The type of Signal is indicated by (B-1), (S-2), etc, which are fully described in the Description and Results section.
The 'rules' for the original Dow Theory signals can be abbreviated as follows:
1) The primary trend is interrupted by a secondary reaction usually lasting a minimum of 'three weeks to as many months":
2) In a Bull market that secondary reaction will be a pullback,
after which a bounce must rise at least 3%
on one of the Dow Jones Industrials or the Dow Jones Transports.
3) In a Bear market the secondary reaction will be a bounce, after which a
pullback must drop at least 3% on one of the indices.
4) After that, both of the indices will fall below the previous pullback lows after a bull market, or rise above the bounce highs from a bear market, to qualify as a Sell or Buy signal.
5) In the event the market reverses after a Sell signal to reach yet newer highs, or lower lows after a Buy, on both of the indices, a reversal of the previous signal is called for.
|
Dow Theory |
Note |
Date |
Industrial Average |
% Change |
Status |
Date |
Transport Average |
% Change |
|
BUY |
TA |
7/12/1897 |
44.61 | |||||
|
SELL |
TA |
12/16/99 | 63.84 | |||||
| 9/24/1900 | 52.96 | Bear Market Low | ||||||
|
BUY |
TA |
10/20/00 | 59.44 | |||||
| 6/17/01 | 78.26 | Bull Market High | ||||||
|
SELL |
TA |
6/1/03 | 59.59 | |||||
| 11/9/03 | 42.15 | Bear Market Low | ||||||
|
BUY |
TA |
7/12/04 | 51.37 | |||||
| 1/19/06 | 103.00 | Bull Market High | ||||||
|
SELL |
TA |
4/26/06 | 92.44 | |||||
| 11/15/07 | 53.00 | Bear Market Low | ||||||
|
BUY |
TA |
4/24/08 | 70.01 | |||||
| 11/19/09 | 100.53 | Bull Market High | ||||||
|
SELL |
TA |
5/3/10 | 84.72 | |||||
|
BUY |
TA |
10/10/10 | 81.91 | |||||
| 9/25/11 | 72.94 | Bear Market Low | ||||||
| 9/30/12 | 94.15 | Bull Market High | ||||||
|
SELL |
TA |
1/14/13 | 84.96 | |||||
| 12/24/14 | 53.17 | Bear Market Low |
*changed |
basis was | 71.00 | |||
|
BUY |
TA |
4/9/15 | 65.02 | |||||
| 11/21/16 | 110.15 | Bull Market High | ||||||
|
SELL |
TA |
8/28/17 | 86.12 | |||||
|
12/19/17 |
65.95 |
Bear Market Low | ||||||
|
BUY |
TA |
5/13/18 |
82.16 |
|||||
|
11/03/19 |
119.62 |
Bull Market High |
5/26 |
91.13 |
||||
| 12/22 | 103.55 | 13.4% |
Pullback |
12/12 | 73.63 | 19.2% | ||
| 01/03/20 | 109.88 | 6.1% |
Bounce |
1/3 | 76.48 | 3.9% | ||
| 1/14 | 102.00 |
Breakdown |
2/3 | 73.56 | ||||
|
SELL |
TA&B |
02/03/20 |
99.96 |
73.56 |
||||
|
(S-1) |
08/24/21 |
63.90 |
Bear Market Low |
65.52 |
||||
| 12/15 | 81.50 | 27.5% |
Bounce |
11/29 | 76.66 | 17.0% | ||
| 01/10/22 | 78.59 | 3.6% |
Pullback |
12/23 | 73.30 | 4.4% | ||
| 1/17 | 81.90 |
Breakup |
2/6 | 76.70 | ||||
|
BUY |
TA&B |
02/06/22 |
83.70 |
76.70 |
||||
|
(B-1) |
10/14 | 103.43 | Mkt highs | 9/11 | 93.99 | |||
| 11/27 | 92.03 | 11.0% | Pullback | 11/27 | 82.17 | 12.6% | ||
|
03/20/23 |
105.38 |
14.5% |
Bull High/Bounce |
3/3 |
90.63 |
10.3% |
||
| 5/21 | 92.77 | 12.0% |
Pullback |
5/7 | 80.37 | |||
| 5/29 | 97.66 | 5.3% |
Bounce |
|||||
|
SELL |
TA&B |
06/20/23 |
90.81 |
Breakdown |
80.60 |
|||
|
(S-2) |
7/31 | 86.91 |
Mkt lows |
8/4 | 76.78 | |||
| 8/29 | 93.70 | 7.8% |
Bounce |
10/6 | 80.81 | 5.2% | ||
|
10/27/23 |
85.76 |
8.5% |
Bear Low/Pullback |
10/26 |
77.65 |
3.9% |
||
|
BUY |
TA&B |
12/07/23 |
93.80 |
Breakup |
11/13 |
81.20 |
||
|
(B-2) |
09/03/29 |
381.17 |
Bull Market High |
9/3 |
189.11 |
|||
| 10/4 | 325.17 | 14.7% |
Pullback |
10/4 | 168.26 | 11.0% | ||
| 10/10 | 352.86 | 8.5% |
Bounce |
10/11 | 178.53 | 6.1% | ||
| 10/19 | 323.87 |
Breakdown |
10/23 | 167.28 | ||||
|
SELL |
TA&B |
10/23/29 |
305.85 |
|||||
|
(S-1) |
07/08/32 |
41.22 |
Bear Market Low |
7/8 |
13.23 |
|||
| 9/7 | 79.93 | 93.9% |
Bounce |
9/3 | 39.27 | 196% | ||
| 2/27 | 50.16 | 37.2% |
Pullback |
2/25 | 23.43 | 40.3% | ||
|
BUY |
TA&B |
05/24/33 |
84.29 |
Breakup |
5/24 |
40.28 |
||
|
(B-1) |
03/10/37 |
194.40 |
Bull Market High |
3/17 |
64.46 |
|||
| 6/14 | 165.51 | 14.9% |
Pullback |
6/28 | 50.17 | 22.2% | ||
| 8/14 | 190.02 | 14.8% |
Bounce |
7/24 | 55.05 | 9.7% | ||
|
SELL |
TA&B |
09/07/37 |
164.39 |
Breakdown |
8/27 |
49.40 |
||
|
(S-1) |
03/31/38 |
98.95 |
Bear Market Low |
3/31 |
19.00 |
|||
| 4/16 | 121.00 | 22.3% |
Bounce |
5/9 | 23.50 | 23.7% | ||
| 5/31 | 107.74 | 11.0% |
Pullback |
6/17 | 19.68 | 16.3% | ||
| 6/21 | 121.34 |
Breakup |
6/23 | 24.60 | ||||
|
BUY |
TA&B |
06/23/38 |
127.40 |
|||||
|
(B-1) |
11/12/38 |
158.41 |
Bull Market High |
1/4/39 |
34.33 |
|||
|
01/26/39 |
136.42 |
13.9% |
Pullback |
1/26 |
27.93 |
18.6% |
||
|
3/10 |
152.28 |
11.6% |
Bounce |
3/8 |
33.66 |
20.5% |
||
|
SELL |
TA&B |
03/31/39 |
131.84 |
Breakdown |
3/31 |
26.38 |
||
|
(S-1) |
4/8 |
121.44 |
Mkt lows |
4/8 |
24.14 |
|||
|
6/10 |
140.14 |
15.4% |
Bounce |
5/31 |
28.45 |
17.9% |
||
|
6/29 |
130.05 |
7.2% |
Pullback |
6/30 |
25.85 |
9.1% |
||
|
BUY |
TA&B |
07/17/39 |
142.58 |
Breakup |
7/17 |
29.14 |
||
|
(B-1) |
9/12 |
155.92 |
Mkt highs |
9/27 |
35.90 |
|||
|
1/15/40 |
144.65 |
7.2% |
Pullback |
3/16 |
29.78 |
17.0% |
||
|
4/8 |
151.29 |
4.6% |
Bounce |
4/6 |
32.08 |
7.7% |
||
|
SELL |
TA&B |
05/13/40 |
137.63 |
Breakdown |
5/13 |
27.83 |
||
|
(S-1) |
04/28/42 |
92.92 |
Bear Market Low |
5/21/40 |
22.14 |
|||
| 11/9 | 117.30 | 26.2% | Bounce | 11/2 | 29.28 | 32.2% | ||
| 11/24 | 114.10 | 2.7% | Pullback | 12/14 | 26.03 | 11.1% | ||
|
12/17 |
118.68 |
Breakup |
2/1 |
29.55 |
||||
|
BUY |
TA |
2/1/43 | 125.86 | |||||
|
(B-2) |
05/29/46 |
212.50 |
Bull Market High |
6/13 |
69.31 |
|||
|
7/22 |
195.22 |
8.1% |
Pullback |
7/23 |
60.41 |
12.8% |
||
|
8/13 |
204.52 |
4.8% |
Bounce |
8/2 |
63.63 |
5.3% |
||
|
SELL |
TA&B |
08/27/46 |
191.04 |
Breakdown |
8/27 |
58.04 |
||
|
(S-1) |
5/17 |
163.21 |
Mkt lows |
5/19 |
41.16 |
|||
|
7/24 |
186.85 |
14.5% |
Bounce |
1/2 |
53.85 |
30.8% |
||
|
03/16/48 |
165.39 |
11.5% |
Pullback |
2/10 |
48.13 |
10.6% |
||
|
BUY |
B |
05/14/48 |
188.60 |
Breakup |
4/3 |
53.93 |
||
|
(B-1) |
6/15 |
193.16 |
Mkt highs |
7/14 |
64.95 |
|||
|
9/27 |
175.99 |
8.9% |
Pullback |
9/27 |
57.45 |
11.5% |
||
|
10/23 |
190.19 |
8.1% |
Bounce |
10/23 |
62.24 |
8.3% |
||
|
SELL |
B |
11/09/48 |
173.94 |
Breakdown |
11/5 |
56.22 |
||
|
(S-1) |
06/13/49 |
161.60 |
Bear Market Low |
6/13 |
41.03 |
|||
|
8/18 |
182.02 |
12.6% |
Bounce |
8/10 |
47.72 |
16.3% |
||
|
8/29 |
177.75 |
2.3% |
Pullback |
8/29 |
44.97 |
5.8% |
||
|
9/13 |
183.29 |
Breakup |
9/23 |
47.78 |
||||
|
BUY |
S |
9/23/49 |
181.30 |
|||||
|
(B-1) |
01/05/53 |
293.79 |
Mkt highs |
12/22/52 |
112.53 |
|||
|
2/18 |
281.14 |
4.3% |
Pullback |
2/10 |
106.90 |
5.0% |
||
|
3/17 |
290.64 |
3.4% |
Bounce |
3/17 |
112.03 |
4.8% |
||
|
03/31 |
279.87 |
Breakdown |
4/2 |
106.11 |
||||
|
SELL |
TA |
4/2/53 |
280.03 |
|||||
|
(S-1) |
9/14 |
255.49 |
Mkt lows |
9/14 |
90.56 |
|||
|
12/18 |
283.54 |
11.0% |
Bounce |
12/1 |
98.91 |
9.2% |
||
|
12/29 |
278.30 |
1.8% |
Pullback |
12/29 |
93.58 |
5.4% |
||
|
1/6/54 |
283.96 |
Breakup |
01/19/54 |
99.43 |
||||
|
BUY |
TA,S&8 |
1/19/54 |
288.27 |
|||||
|
(B-5) |
04/06/56 |
521.05 |
Bull Market High |
5/9 |
181.23 |
|||
|
05/28/56 |
468.81 |
10.0% |
Pullback |
5/28 |
161.60 |
10.8% |
||
|
8/2 |
520.95 |
11.1% |
Bounce |
7/25 |
171.37 |
6.0% |
||
|
SELL |
TA,S&8 |
10/01/56 |
468.70 |
Breakdown |
8/22 |
161.28 |
||
|
(S-1) |
10/22/57 |
419.79 |
Bear Market Low |
12/24 |
95.67 |
|||
|
02/04/58 |
458.65 |
9.3% |
Bounce |
2/4 |
111.16 |
16.2% |
||
|
2/25 |
436.89 |
4.7% |
Pullback |
4/7 |
100.67 |
9.4% |
||
|
BUY |
B&S |
05/02/58 |
459.56 |
Breakup |
4/21 |
111.60 |
||
|
(B-1) |
08/03/59 |
678.10 |
Mkt highs |
7/8 |
173.56 |
|||
|
9/22 |
616.45 |
9.1% |
Pullback |
11/17 |
146.65 |
15.5% |
||
|
01/05/60 |
685.47 |
11.2% |
New high/Bounce |
1/5 |
160.43 |
9.4% |
||
|
2/16 |
611.33 |
Breakdown |
3/3 |
142.98 |
||||
|
SELL |
B,S&8 |
03/03/60 |
612.05 |
|||||
|
(S-2) |
10/25 |
566.05 |
Mkt lows |
9/29 |
123.37 |
|||
|
2/2/61 |
653.62 |
15.5% |
Bounce |
1/18/61 |
144.89 |
8.3% |
||
|
2/13 |
637.14 |
2.5% |
Pullback |
2/13 |
139.69 |
3.6% |
||
|
2/20 |
653.65 |
Breakup |
2/23 |
144.91 |
||||
|
BUY |
S |
2/23/61 |
654.42 |
150.91 |
||||
|
(B-1) |
12/13/61 |
734.91 |
Bull Market High |
10/11 |
152.92 |
|||
|
01/29/62 |
689.92 |
6.1% |
Pullback |
12/20 |
140.66 |
8.0% |
||
|
3/15 |
723.54 |
4.9% |
Bounce |
2/2 |
149.83 |
6.5% |
||
|
4/12 |
685.67 |
Breakdown |
4/26 |
140.28 |
||||
|
SELL |
B,S&8 |
04/26/62 |
678.68 |
|||||
|
(S-1) |
06/26/62 |
535.76 |
Bear Market Low |
6/25 |
115.89 |
|||
|
8/23 |
616.00 |
15.0% |
Bounce |
7/17 |
125.49 |
8.3% |
||
|
10/23 |
558.06 |
9.4% |
Pullback |
10/1 |
114.86 |
8.5% |
||
|
BUY |
B,S&8 |
11/09/62 |
616.13 |
Breakup |
11/9 |
126.05 |
||
|
(B-1) |
02/09/66 |
995.15 |
Bull Market High |
2/15 |
271.72 |
|||
|
3/15 |
911.08 |
8.4% |
Pullback |
3/15 |
243.60 |
10.3% |
||
|
4/21 |
954.73 |
4.8% |
Bounce |
4/20 |
265.97 |
9.2% |
||
|
SELL |
B,S&8 |
05/05/66 |
899.77 |
Breakdown |
5/5 |
240.96 |
||
|
(S-1) |
10/07/66 |
744.32 |
Bear Market Low |
10/7 |
184.34 |
|||
|
11/16 |
820.87 |
10.3% |
Bounce |
11/16 |
208.79 |
13.3% |
||
|
12/2 |
789.47 |
3.8% |
Pullback |
11/22 |
199.54 |
4.4% |
||
|
12/12 |
820.54 |
Lower/Bounce |
12/22 |
209.07 |
||||
|
12/30 |
785.69 |
Lower/Pullback |
12/30 |
202.97 |
||||
|
BUY |
S,3,4 &8 |
01/11/67 |
822.49 |
Breakup |
1/6 |
209.19 |
||
|
(B-3) |
8/9 |
926.72 |
Mkt highs |
8/4 |
274.49 |
|||
|
8/30 |
893.72 |
3.6% |
Pullback |
8/22 |
256.06 |
6.7% |
||
|
9/25 |
943.08 |
5.5% |
New high/Bounce |
9/18 |
265.11 |
3.5% |
||
|
SELL |
S,3&4 |
10/24/67 |
888.18 |
Breakdown |
10/10 |
254.59 |
||
|
(S-2) |
3/21 |
825.13 |
Mkt lows |
3/5 |
214.58 |
|||
|
7/15 |
923.72 |
11.9% |
Bounce |
7/8 |
269.61 |
25.6% |
||
|
8/9 |
869.65 |
5.9% |
Pullback |
8/9 |
245.76 |
8.8% |
||
|
9/9 |
924.98 |
Breakup |
10/1 |
270.24 |
||||
|
BUY |
S |
10/01/68 |
942.32 |
|||||
|
(B-1) |
12/03/68 |
985.21 |
Bull Market High |
12/1 |
279.48 |
|||
|
01/08/69 |
921.25 |
6.5% |
Pullback |
1/13 |
260.04 |
7.0% |
||
|
2/13 |
952.70 |
3.4% |
Bounce/new high |
2/7 |
279.88 |
7.6% |
||
|
2/20 |
916.65 |
Breakdown |
2/25 |
257.07 |
||||
|
SELL |
S,3&4 |
02/25/69 |
899.80 |
|||||
|
(S-2) |
7/29 |
801.96 |
Mkt lows |
7/30 |
193.19 |
|||
|
9/2 |
837.78 |
4.5% |
Bounce |
8/22 |
202.02 |
4.6% |
||
|
9/8 |
811.84 |
3.1% |
Pullback |
10/9 |
194.72 |
3.6% |
||
|
10/16 |
838.77 |
Breakup |
10/27 |
202.37 |
||||
|
BUY |
S,3&4 |
10/27/69 |
860.28 |
|||||
|
(B-1) |
11/10 |
863.05 |
Mkt highs |
10/28 |
202.45 |
|||
|
12/17 |
769.93 |
10.8% |
Pullback |
12/16 |
169.43 |
16.3% |
||
|
01/05/70 |
811.31 |
5.4% |
Bounce |
1/5 |
183.31 |
8.2% |
||
|
SELL |
S,3&4 |
01/26/70 |
768.88 |
Breakdown |
1/26 |
168.98 |
||
|
(S-1) |
05/26/70 |
631.16 |
Bear Market Low |
5/26 |
131.53 |
|||
|
6/19 |
720.43 |
14.1% |
Bounce |
6/3 |
146.98 |
11.7% |
||
|
7/7 |
669.36 |
7.1% |
Pullback/new low |
7/7 |
116.69 |
20.6% |
||
|
7/16 |
723.44 |
Breakup |
9/28 |
148.21 |
||||
|
BUY |
S,3&4 |
09/28/70 |
758.97 |
|||||
|
(B-2) |
04/28/71 |
950.82 |
Mkt highs |
4/28 |
232.79 |
|||
|
6/28 |
873.10 |
8.2% |
Pullback |
6/28 |
208.89 |
10.3% |
||
|
7/12 |
903.40 |
3.5% |
Bounce |
7/12 |
220.21 |
5.4% |
||
|
SELL |
TA&S |
07/28/71 |
872.01 |
Breakdown |
7/28 |
208.06 |
||
|
(S-1) |
8/10 |
839.59 |
Mkt lows |
8/4 |
203.61 |
|||
|
9/8 |
920.93 |
9.7% |
Bounce |
9/7 |
248.33 |
22.0% |
||
|
11/23 |
797.97 |
13.4% |
New low/Pullbck |
11/23 |
208.43 |
16.1% |
||
|
BUY |
TA&S |
02/10/72 |
921.28 |
Breakup |
1/12 |
249.08 |
||
|
(B-2) |
01/11/73 |
1051.70 |
Bull Market High |
12/11/72 |
240.41 |
|||
|
2/8 |
967.19 |
8.0% |
Pullback |
2/8 |
202.10 |
15.9% |
||
|
2/13 |
996.79 |
3.1% |
Bounce |
2/12 |
207.13 |
3.2% |
||
|
SELL |
S |
02/23/73 |
959.89 |
Breakdown |
2/21 |
201.21 |
||
|
(S-1) |
10/4/74 |
584.56 |
Mkt lows |
10/3 |
125.93 |
|||
|
11/5 |
674.75 |
15.4% |
Bounce |
11/7 |
156.61 |
24.4% |
||
|
12/6 |
577.60 |
14.4% |
Bear Low/Pullback |
12/16 |
138.31 |
4.7% |
||
|
BUY |
S&8 |
1/27/75 |
692,66 |
Breakup |
1/27 |
156.79 |
||
|
(B-1) |
09/21/76 |
1014.79 |
Bull Market High |
7/14 |
231.27 |
|||
|
10/12 |
932.35 |
8.1% |
Pullback |
10/12 |
203.85 |
11.9% |
||
|
12/31 |
1004.65 |
7.8% |
Bounce/new high |
01/03/77 |
237.52 |
16.5% |
||
|
05/31/77 |
898.66 |
New low/Pullbck |
2/25 |
221.81 |
||||
|
6/24 |
929.70 |
Bounce/new high |
5/18 |
246.64 |
||||
|
7/27 |
888.43 |
New low/Pullbck |
8/9 |
220.88 |
||||
|
SELL |
TA,S&4 |
10/24/77 |
802.32 |
Break 1st Pullbck |
10/24 |
201.74 |
||
|
(S-3) |
02/28/78 |
742.72 |
Bear Market Low |
3/9 |
199.31 |
|||
|
5/17 |
858.37 |
15.6% |
Bounce |
5/22 |
231.30 |
16.1% |
||
|
5/26 |
831.69 |
3.1% |
Pullback |
5/26 |
223.70 |
3.3% |
||
|
6/5 |
863.83 |
Breakup |
6/6 |
231.35 |
||||
|
BUY |
TA,S&4 |
06/06/78 |
866.51 |
|||||
|
(B-1) |
09/11/78 |
907.74 |
Bull Market High |
|||||
|
04/21/80 |
759.13 |
Bear Market Low |
||||||
|
|
04/27/81 |
1024.05 |
Bull Market High |
4/16 |
447.38 |
|||
|
5/11 |
963.44 |
5.9% |
Pullback |
5/11 |
410.28 |
8.3% |
||
|
6/15 |
1011.99 |
5.0% |
Bounce |
6/1 |
430.92 |
5.0% |
||
|
SELL |
S,3&8 |
07/02/81 |
959.19 |
Breakdown |
7/2 |
409.60 |
||
|
(S-1) |
08/12/82 |
776.92 |
Bear Market Low |
8/12 |
292.12 |
|||
|
9/21 |
934.79 |
20.3% |
Bounce |
9/14 |
375.45 |
28.5% |
||
|
9/30 |
896.25 |
4.1% |
Pullback |
9/30 |
360.46 |
4.0% |
||
|
10/6 |
944.26 |
Breakup |
10/7 |
|||||
|
BUY |
TA&S |
10/07/82 |
965.97 |
|||||
|
(B-1) |
11/29/83 |
1287.20 |
Mkt highs |
11/22 |
612.57 |
|||
|
12/15 |
1236.79 |
3.9% |
Pullback |
12/22 |
587.07 |
4.2% |
||
|
01/06/84 |
1286.64 |
4.0% |
Bounce/new high |
1/9 |
612.63 |
4.4% |
||
|
SELL |
TA&S |
01/25/84 |
1231.89 |
Breakdown |
1/24 |
585.29 |
||
|
(S-2) |
7/24 |
1086.57 |
Mkt lows |
7/25 |
444.03 |
|||
|
8/21 |
1239.73 |
14.1% |
Bounce |
9/14 |
526.52 |
18.6% |
||
|
10/9 |
1175.13 |
5.2% |
Pullback |
10/9 |
508.48 |
3.4% |
||
|
BUY |
TA&S |
11/6/84 |
1244.15 |
Breakup |
10/18 |
542.53 |
||
|
(B-1) |
08/25/87 |
2722.42 |
Bull Market High |
8/14 |
1101.16 |
|||
|
9/21 |
2492.82 |
8.4% |
Pullback |
9/21 |
1005.80 |
8.7% |
||
|
10/2 |
2640.99 |
5.9% |
Bounce |
10/2 |
1064.41 |
5.8% |
||
|
10/14 |
2412.70 |
Breakdown |
10/15 |
980.24 |
||||
|
SELL |
TA,S,5 &6 |
10/15/87 |
2355.09 |
|||||
|
(S-1) |
10/19/87 |
1738.74 |
Bear Market Low |
12/4 |
661.00 |
|||
|
1/7/88 |
2051.89 |
18.0% |
Bounce |
1/7 |
789.43 |
19.4% |
||
|
1/20 |
1879.14 |
8.4% |
Pullback |
1/23 |
737.57 |
6.6% |
||
|
BUY |
S&8 |
2/29/88 |
2071.62 |
Breakup |
2/16 |
791.14 |
||
| (B-4) |
09/01/89 |
2752.09 |
Mkt Highs |
9/5 |
1532.01 |
|||
|
9/25 |
2659.19 |
3.4% |
Pullback |
9/26 |
1424.96 |
7.0% |
||
|
10/9 |
2791.41 |
5.0% |
New high/Bounce |
10/9 |
1518.49 |
6.6% |
||
|
SELL |
TA&S |
10/13/89 |
2569.26 |
Breakdown |
10/13 |
1406.29 |
||
|
(S-2) |
1/30 |
2543.24 |
Mkt lows |
1/30 |
1031.83 |
|||
| 4/17 | 2765.77 | 8.7% |
Bounce |
3/27 | 1192.57 | 15.6% | ||
| 4/27 | 2645.05 | 4.4% |
Pullback |
4/27 | 1128.20 | 5.4% | ||
| 5/11 | 2801.58 |
Breakup |
6/4 | 1207.85 | ||||
|
BUY |
TA,S&8 |
6/4/90 | 2935.19 | |||||
|
(B-1) |
6/15 | 2935.89 | Mkt Highs | 6/6 | 1212.77 | |||
| 6/26 | 2842.33 | 3.2% | Pullback | 7/5 | 1131.02 | 6.7% | ||
|
07/16/90 |
2999.75 |
5.5% |
Bull High/Bounce |
7/16 |
1189.60 |
5.2% |
||
|
SELL |
TA&S |
8/03/90 | 2809.65 | Breakdown | 7/30 | 1125.00 | ||
|
(S-2) |
10/11/90 |
2365.10 |
Bear Market Low |
10/17 |
821.93 |
|||
|
12/26 |
2637.13 |
11.5% |
Bounce |
12/21 |
923.91 |
12.4% |
||
|
1/9/91 |
2470.30 |
6.3% |
Pullback |
1/7 |
894.30 |
3.2% |
||
|
BUY |
S&8 |
1/18/91 |
2646.78 |
Breakup |
1/17 |
979.56 |
||
| (B-1) | 3/3/92 | 3290.25 | Mkt Highs | 2/20 | 1467.68 | |||
| 4/8 | 3181.35 | 3.3% | Pullback | 4/8 | 1301.57 | 11.3% | ||
| 6/1 | 3413.21 | 7.3% |
New high/Bounce |
5/6 | 1407.70 | 8.2% | ||
|
SELL |
S |
10/5/92 | 3179.00 |
Breakdown |
6/22 | 1295.03 | ||
|
(S-2) |
10/9 | 3136.58 | Mkt Lows | 10/9 | 1219.56 | |||
| 11/2 | 3262.21 | 4.0% |
Bounce |
11/9 | 1387.36 | 13.8% | ||
| 11/17 | 3193.32 | 2.1% |
Pullback |
11/17 | 1341.23 | 3.3% | ||
| BUY | 11/25/92 | 3266.26 |
Breakup |
11/25 | 1404.89 | |||
| (B-1) |
5/13/98 |
9211.84 |
Mkt Highs |
4/16 |
3686.02 |
|||
|
6/15 |
8627.93 | 6.3% |
Pullback |
6/2 |
3259.30 |
11.6% |
||
| 7/17/98 | 9337.97 | 8.2% |
Bull High/Bounce |
7/14 | 3618.73 | 11.0% | ||
|
SELL |
TA,S,5,6&8 |
8/04/98 | 8487.31 | Breakdown | 7/29 | 3244.93 | ||
|
(S-2) |
8/31 | 7539.07 | Bear Market Low | 9/4 | 2616.75 | |||
| 9/23 | 8154.41 | 8.1% |
Bounce |
9/23 | 2904.10 | 11.0% | ||
| 10/1 | 7632.53 | 6.4% |
Pullback/new low |
10/8 | 2345.00 | 19.3% | ||
| 10/15 | 8299.36 |
Breakup |
11/2 | 2954.85 | ||||
|
BUY |
S |
11/2/98 | 8706.15 | |||||
|
(B-1) |
5/13/99 | 11107.19 |
Mkt Highs |
5/12/99 | 3783.50 | |||
| 5/27 | 10466.93 | 5.8% |
Pullback |
6/25 | 3316.11 | 12.4% | ||
| 7/16 | 11209.84 | 7.1% |
Mkt High/Bounce |
7/2 | 3515.99 | 6.0% | ||
| 8/2 | 10645.96 | Pullback/New Low | 8/11 | 3130.53 | ||||
| 8/25 | 11326.04 | Mkt High/Bounce | 8/25 | 3309.25 | ||||
|
SELL |
TA,S,5&8 |
9/23/99 | 10318.59 | Break 1st Pullback | 9/23 | 2895.98 | ||
|
(S-3) |
1/14/00 | 11722.98 | Bull Market High | |||||
| 9/21/01 | 8235.81 | Bear Market Low | 9/20 | 2033.86 | ||||
| 10/26 | 9545.17 | 12.9% |
Bounce |
10/11 | 2314.80 | 13.8% | ||
| 10/31 | 9075.14 | 4.9% |
Pullback |
10/19 | 2174.28 | 6.1% | ||
| 11/6 | 9591.12 |
Breakup |
11/8 | 2320.98 | ||||
| BUY |
TA&S |
11/8/01 | 9587.52 | |||||
| (B-1) | 3/19/02 | 10635.25 | Bull Market High | 3/4 | 3049.96 | |||
| 5/6 | 9808.04 | 7.8% | Pullback | 5/10 | 2643.10 | 13.5% | ||
| 5/17 | 10353.08 | 5.5% | Bounce | 5/17 | 2798.36 | 5.8% | ||
| 6/3 | 9709.79 | Breakdown | 6/25 | 2627.92 | ||||
|
SELL |
TA&S |
6/25/02 | 9126.80 | |||||
| (S-1) | 10/9/02 | 7286.27 |
Bear Market low |
10/9 | 2013.02 | |||
| 11/6 | 8771.01 | 20.4% |
Bounce |
11/6 | 2413.71 | 19.9% | ||
| 11/11 | 8358.95 | 4.7% |
Pullback |
11/26 | 2268.35 | 6.0% | ||
| 11/21 | 8845.15 |
Breakup |
1/6/03 | 2421.71 | ||||
| BUY |
S |
1/6/03 | 8773.57 | |||||
| (B-1) | 7/19/07 | 14000.41 | Mkt highs | 7/19/07 | 5446.49 | |||
| 8/16 | 12845.78 | 8.2% |
Pullback |
8/16 | 4671.88 | 14.2% | ||
| 10/9/07 | 14164.53 | 10.3% |
Bull Mkt High/Bounce |
10/5 | 4997.17 | 7.0% | ||
| SELL |
S,5,7&8 |
11/21/07 | 12799.04 |
Breakdown |
11/7 | 4663.35 | ||
| (S-2) | 3/10/08 | 11740.15 |
Market Lows |
1/17 | 4140.29 | |||
| 4/1 | 12654.36 | 7.8% |
Bounce |
4/3 | 4999.93 | 16.5% | ||
| 4/14 | 12302.06 | 2.8% |
Pullback |
4/9 | 4803.10 | 3.9% | ||
| BUY |
S,5&7 |
4/18/08 | 12849.36 |
Breakup |
4/16 | 5073.41 | ||
| (B-1) | 5/2 | 13058.20 | Market highs | 6/5 | 5492.95 | |||
| 7/15 | 10962.54 | 16.0% |
Pullback |
7/15 | 4657.56 | 15.2% | ||
| 8/11 | 11782.35 | 7.5% |
Bounce |
8/8 | 5216.50 | 12.0% | ||
| SELL |
S |
9/29/08 | 10365.45 |
Breakdown |
9/29 | 4503.89 | ||
| (S-1) | 11/20/08 | 7552.29 |
Bear Market Low |
|||||
| 1/2/09 | 9034.69 |
Bull Market High |
||||||
| 3/9/09 | 6547.05 |
Bear Market Low |
3/9/09 | 2146.89 | ||||
| 4/3 | 8017.59 | 22.5% |
Bounce |
4/3 | 2978.32 | 38.7% | ||
| 4/7 | 7789.56 | 2.8% |
Pullback |
4/7 | 2796.92 | 6.1% | ||
| BUY |
S |
4/9/09 | 8083.38 |
Breakup |
4/9 | 2988.99 | ||
| (B-1) | 4/26/10 | 11205.03 | Mkt highs | 5/3/10 | 4806.01 | |||
| 6/7 | 9816.49 | 12.4% |
Pullback |
6/7 | 4037.98 | 13.7% | ||
| 6/18 | 10450.64 | 6.5% |
Bounce |
6/15 | 4467.25 | 6.4% | ||
| SELL |
S&7 |
6/30/10 | 9774.02 |
Breakdown |
6/30 | 4007.84 | ||
| (S-1) | 7/2 | 9686.48 |
Market Lows |
7/6 | 3906.01 | |||
| 8/9 | 10698.75 | 10.5% |
Bounce |
8/9 | 4516.35 | 15.6% | ||
| 8/26 | 9985.81 | 6.7% |
Pullback |
8/24 | 4082.51 | 9.6% | ||
| BUY |
S |
9/27/10 | 10812.04 |
Breakup |
9/27 | 4519.42 | ||
| (B-1) | 4/29/11 | 12810.54 |
Bull Market High |
5/10 | 5527.50 | |||
| 6/15 | 11897.27 | 7.1% |
Pullback |
6/10 | 5060.59 | 8.4% | ||
| 7/21 | 12724.41 | 7.0% |
Bounce |
7/7 | 5618.25 | 11.0% | ||
| SELL | S,7&8 | 8/2/11 | 11866.62 |
Breakdown |
8/2 | 4942.27 | ||
| (S-2) | 10/3 | 10655.30 |
Bear Market Low |
10/3 | 4038.73 | |||
| 10/28 | 12231.11 | 14.8% |
Bounce |
10/27 | 5025.09 | 24.4% | ||
| 11/25 | 11231.78 | 8.2% |
Pullback |
11/25 | 4533.44 | 9.8% | ||
| BUY | S&7 | 12/23 | 12294.00 |
Breakup |
12/23 | 5053.29 | ||
| (B-1) |
Update for the most recent
60 days is available for Subscribers only.
Note "TA" is from Edwards & Magee in Technical Analysis of Stock Trends,
which showed signals from 1897 through 1956 and thereafter use my interpretation
to the current date.
Note "B" signals were compiled from studies by Robert Rhea; Perry P. Greiner
and Hale C. Whitcomb; Harvey A.. Krow, and Ned Davis in Barron's (9/5/77)
"How Now, Dow Theory?" by John C. Boland. Their signals began in
1920 and ran through 1975.
Note "S": Jack Schannep has confirmed and updated the signals to the present,
using the Dow/Hamilton/Rhea method.
Note #3: Ned Davis of Ned Davis Research was quoted in Barron's (7/9/84)
Editorial Commentary by Robert M. Bleiberg "Way Above Average, For a Century
Dow Theory Has Served Investors Well".
Note #4: Robert W. Ross was V.P. at Shearson, and an avid student of Rhea, Hamilton
& Dow.
Note #5: Richard Russell publishes the Dow Theory Letters.
Note #6: Charles B. Carlson was Editor of Dow Theory Forecasts.
Note #7: Richard Moroney, Editor of Dow Theory Forecasts.
Note #8 Robert W.Colby, Author The Encyclopedia
of Technical Market Indicators.