I don’t have time to write. Most probably next Wednesday 23rd I’ll be able to pen a more in-depth post. However, it is worth mentioning that yesterday, November 21st, at the close, a primary bull market was signaled as per Schannep’s Dow Theory, as the S&P 500 finally confirmed the Industrials and Transports in breaking up above the last recorded primary bull market closing highs.
Thus, now both the “Classical/Rhea” Dow Theory and Schannep’s are in gear: The primary trend (and evidently, the secondary one) is bullish. More about the trend when appraised using the “Classical/Rhea” Dow Theory here.
When I find time I want to study the primary trend when using weekly bars. From a cursory glance at my weekly charts, I feel it has turned bullish. However, this is not a final statement, as I have to further study my charts and make some calculations.
The Dow Theorist