DJIA Daily Chart Review

This DJIA is about the same as the SP500 in how far this bullish move has gone.  The DJIA still has a Death Cross below it even though the DJIA blasted right through both MA lines.  At 24,200 the 50-day MA might give the DJIA some support, but any correction could keep this Death Cross alive much longer.

The commercials don’t have a big bearish position, so this can give the DJIA a bit more wiggling room in the short term.

I’m not going to spent too much time on this update but the Gold/DJIA ratio is still near the extreme expensive side of 19.62, better than the 21:1 ratio I did have back in August 2018.  A cheap DJIA index would be 8:1 but that will not happen anytime soon.

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