Dow Theory Update

At the time of my late March article that was posted here, there was a short-term Dow theory non-confirmation at play. I explained that this non-confirmation had drawn less attention than the one that had occurred earlier in March, but that these non-confirmations only served as warnings and that it was what developed from that point that was most important. Since that time, the latest short-term non-confirmation has again been corrected. So, my point here is that just as I originally stated in the mid-March article, non-confirmations in and of themselves are only warnings and should never be construed as a death sentence to the market. The latest Dow theory chart can be found below and as of this writing we no longer have a Dow theory non-confirmation. (more)