Is a New Stock Market Ice Age at Hand?
NYSE A-D Data Confirms 2007/09 Bear’s Potential Mark J. Lundeen Mlundeen2@Comcast.net 13 February 2009 Color Key to text below Boiler Plate in Blue Grey New Weekly Commentary in Black Here is the BEV chart for the Bear Race. The above chart uses weekly closing prices. Weekly values don’t match those of my other charts using daily data. Week 70’s BEV -44.30% is the lowest weekly close of the bear market. Week 70 also saw the first weekly DJIA closing below 8000. That is not bullish. On 10 Oct 2008, the DJIA broke below 8000, but closed above. Since then, the DJIA had other daily lows below 8000, but always managed to have a high for the day above 8000. The last 3 days of Week 70, the DJIA’s Open, High, Low and Closing Prices were all below 8000. Not good! The above chart is like watching a wrestling match between the Bear and the “policy makers.” The “policy makers” did not have the strength to produce a dead-cat bounce since 10 Oct 2008. How pathetic! And the past 3 days they could not
