Muddled Dow
The Dow Jones Industrial Average closed November at 25,538.46. At the end of October the DJIA closed at 25,115.76. Essentially, after a month, nothing has changed.
The DJIA is near the top of of a long-term range that started at 10,240 and reaches up to 28,762. The all-time high was reached October 3rd at 26,951.81.
For the Dow to enter the next up-leg it needs a monthly close at or above 27,648. If the DJIA closes at or below 25,088 that would warn of a shift to a more bearish market.
However, none of that happened - not in October and not in November. So, despite all the talk of a pending recession in either 2019 or 2020, the DJIA remains as inscrutable as the Sphinx. I am not wise enough to speak for the Dow. I'll let the DJIA speak for itself when it is ready.
