- As of yesterday's close, Dow Theory has flashed the beginning of a primary bear market, says typically bullish technician Ralph Acampora.
- He notes the DJIA broke its closing low from Dec. 16, thus confirming weakness the Dow Transports which peaked on Dec. 29 (the DJIA peaked on May 19 at 18.313).
- Typically this bear market signal comes as the market is near oversold territory, says Acampora, so expect a bounce, but use the rally to sell.
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