One Blogger Disagrees with the Bullish Interpretation of Richard Russell

By on September 2, 2009

Richard Russell, the long-time practitioner of Dow Theory, indicated that as of August 25, 2009, the market was in a confirmed bull market. The “Dividend Inc.” blog disagrees with the bullish interpretation of Russell. In their opinion the transports haven’t confirmed the trend.



  1. Dividend Inc. Team

    September 6, 2009 at 4:16 am


    Thank you for mentioning my work on your blog. I just wanted to provide and update to the article you referenced.

    My September 2nd post has an updated Dow Theory interpretation as well as a note indicating that Richard Russell changed his bullish interpretation to an undecided position after talking to his team. They agree with my stance as should be the case under Dow's Theory.

    Again, I still believe we're in a cyclical bull market with a secular bear market. So far this bullish indication has not been reversed under Dow's Theory unless we fall below 8146.

    Thank you for the mention and your site has been appreciatively referenced on my blog as well.


  2. Bob G., editor, SMA

    September 6, 2009 at 11:13 am


    Thanks for pointing out that Russell recently changed his current interpretation of the market from bullish to undecided.

    I'll check in on your site periodically for ideas and list you under my "Links."

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