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The Dow Jones Industrial Average passes all time high again: are we in a bull market or bear trap?
Our Dow Jones Industrial Average passed its all time high again today, likely in response to the positive employment numbers released earlier this morning. With the now new Dow record of 14,296.24, a .30% increase from yesterday’s meteoric high, I wonder if this is indeed a new bull market or a a bear trap?
In essence, I discuss all of the headwinds that the bulls (and bears) face: sequester affects, European recession, ailing US economic growth and unemployment, and the “QE forever” mantra of our beloved Chairman.
Remember the last time we were at these levels, October 2007, and remember what happened shortly afterwards. Something to think about at the very least, and that is why Wall Street Sector Selector is still in yellow flag mode for the time being…
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