Is it bearish when the largest component in the Dow Jones Industrial Average breaks out of a multi-year base to new all-time highs?
To be clear, we’re talking about the world’s most important stock market index here. And UnitedHealth represents over 8.5% of the entire Papa Dow.
Look at this chart. While people are telling you that the market is in a bubble, things are parabolic and this is unsustainable, the largest weighting of the most important stock market gauge hasn’t even done anything for years.
Until now… [Read more…]