SJB, DJIA Momentum

 

We bought SJB in early September of last year, then doubled it in October.

We'll add a third position if SJB trades above $24.20

At that point a down trend of more than a year will be broken, as will a large falling wedge formation, both of which would be technically very bullish for SJB.

Without a substantial rally tomorrow, DJIA momentum readings will turn negative on a daily basis which is something that only occurs on average 2-3 times per year and often precedes at least a correction.

Without a substantial rally this week, DJIA momentum readings will turn downward on a weekly basis and likely turn negative within a week or two after that.  This occurs on average about once per year, and often precedes at least a correction.

The last time the DJIA weekly momentum readings were as high as they are now was … never save possibly 1929 (we have no momentum data for that period). 

Weekly momentum was almost as high as it is now in 1999, a few months before the epic market top of early 2000.


 

 

 

 

 



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