Its not often that we look at the Dow Jones because it only contains 30 stocks hence making it only an average gauge of weakness/strength in equities but it caught our attention this week as a number of its companies traded to all-time highs, not what we’ve been used to in 2022. Clearly the more industrially focussed companies are still performing, more so than the beaten up technology / growth stocks that do not feature heavily in this index.
- We believe the Dow can at least test the 35,000 area into Christmas.
MM remains bullish on the Dow Jones into Christmas
