Dow’s lower low triggers Dow Theory sell signal

The Dow Jones Industrial Average’s

767-point tumble in afternoon trading Friday, to break down below the June 17 closing low (29,888.78), not only showed that the bear market was alive and kicking, it also triggered a sell signal based on the century-old Dow Theory of market analysis. The Dow’s fresh low, coupled with a series of lower closing highs since the Dow’s Jan . 4 record close of 36,799.65, confirms the Dow Theory’s definition of a…

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