Two Dow Theorists are Currently Bearish, But Not Richard Russell…Yet
Mark Hulbert reports that Jack Schannep, editor of TheDowTheory.com (suggests lightening up based on Jan. 20, 2009 action) and Richard Moroney, editor of Dow Theory Forecasts (negative since September ’08) are currently bearish. Richard Russell is reluctantly neutral and won’t turn bearish on the market’s major trend “unless or until the Dow violates its Nov. 20 closing of 7,552.29, thereby confirming the Transport action.”
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