When gauging the weekly market breadth, it is important to include a
view outside of the United States. The Global Dow is reviewed to see if
it is moving in the same direction as the Dow, NYSE, Nasdaq and SPY
indexes. I take a weekly view and see if it is above or below its 30
week moving average, and to see if it is moving in the same direction as the US Markets. As of this post, the Global Dow continues to struggle. It has been below its 30 week moving average for months, and, the moving average line is sloping down. Both are bear signals.
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