• 10 hours BlackRock Makes A Run On Asian Stocks
  • 17 hours Gold Prices Surge Above $1,800
  • 1 day Chinese Stocks Soar On Bullish Economic Data
  • 2 days Apple’s “Holy Grail Of Data” Leaves Energy Traders Disappointed
  • 2 days Gold Rally Adds $250 Billion To Top 50 Miners' Market Cap
  • 2 days TikTok Is Becoming A New Battleground For Tech Politics
  • 3 days Peru's Mining Industry Pummeled As Coronavirus Cases Surge
  • 3 days Why The World Is So Divided In Its COVID-19 Response
  • 3 days Equities Cheer Stellar Jobs Report, But It May Be Fleeting
  • 4 days Is Tech Billionaire Peter Thiel Done With Trump?
  • 5 days Musk Takes To Twitter To Troll The SEC
  • 6 days Lunar Mining May Commence As Early As 2025
  • 6 days Immigration Will Go Bust Without $1.2B Bailout
  • 7 days The Economics Of The Space Race
  • 8 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 8 days How Much More Cash Can Uber Burn?
  • 9 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 9 days EU-U.S. Trade Relations Are Deteriorating
  • 9 days Over 184 Companies Have Bailed On Facebook
  • 10 days BP Sells Petrochemical Business For $5 Billion
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Monthly DJIA Update: 5/30/03 & 4/28/78

Here's an update of the 4th Monthly DJIA line chart in my August 31, 2003 communication:

Last year I reported that the Monthly DJIA time paths preceding the 8 deep Monthly DJIA Coppock Curve buy signal dates since 1950 pair off into 4 patterns. Given that 3 of those 4 pairs also comprise POST-signal time path pattern pairs, I wondered if the latest post-signal time path would similarly pair off, after the signal, with its pre-signal partner. I decided to wait, watch, and report the outcome.

Here is how things stand: For 5/30/03 and 4/28/78 to comprise a post-signal pattern pair the Monthly DJIA must show a net downside bias from 5/30/03 to 5/30/05, roughly tracking its 4/28/78 to 4/30/80 path. A good course of action in this regard would have been for the green time path to oscillate around the coral time path with the same greater amplitude and same lower frequency it exhibited pre-5/30/03. Instead it rose strongly for many months, showing an even greater amplitude and even lower frequency than before. So, for the two time paths to remain a pattern pair now the green one must nosedive. I estimate that a DJIA drop into the 8,000 neighborhood by the end May of 2005 (at the absolute latest) is required to preserve the pattern pair.

But, given the findings obtained by transforming the Coppock Curve, as presented in my June 1, 2004 communication, there is now reason to believe that the latest pattern pair, unlike the other three, is a pair merely by default, and that any DJIA drop to 8,000 would simply be a coincidence. I will continue to update until my curiosity is satisfied one way or the other.

Back to homepage

Leave a comment

Leave a comment