you'd think a dow theorist would notice that the dow transports are breaking down russel's even capitulated on dow theory 'i guess it's different this time' no, it's not richard
That was certainly my take. I'm hardly on par with Russell when it comes to Dow theory. But you think he could at least wait until the industrials and transports take out the August highs. That would give him a fresh Dow theory confirmation ... There was a same-day bullish confirmation on July 21st, IMHO. The fact that the transports were down by as much as the industrials were up today (on a percentage basis, that is) suggests the possibility of a non-confirmation if one Average takes out the August highs and the other does not.