Your Leaders Are Leading

JC Parets
April 3, 2023

I've argued for years that the Dow Jones Industrial Average is the world's most important stock market index.

It's a list of the most important stocks in the most important country on the planet.

Find me a better index.

You can't. I've looked.

And when you look underneath the surface at the components of the Dow, you'll notice that its Advance-Decline line is pressing up against all-time highs.

They tell me that the market is only being held up by a few names.

They tell me that we're seeing breadth deterioration.

But basic arithmetic will show you that it's actually the exact opposite.

We have a lot to talk about on tonight's LIVE Conference Call.

Premium Members make sure to register here if you haven't already.

In the meantime, I would encourage you to check out each of the 30 components and see for yourself what's going on.

Look at McDonald's going out at new All-time Highs last week:

New all-time highs are not a characteristic of downtrends.

These are things we see in uptrends and bull markets, which we're clearly in.

And other countries are participating as well, even leading.

It's not just a U.S. thing.

Look at Europe going out at new 52-week highs last week as well:

Higher highs and higher lows.

These are uptrends.

In bull markets you'll often find many of these.

And we are.

So it is.

See you tonight!

JC

 

Filed Under