[A ‘Step Sum’ is a cumulative number of days up minus down. A BEV (Bear’s Eye View) shows the current price as a percent of the Most Recent High (eg. if MRH = 1000 and current price is 900, then the price is -10% (below) its MRH. -Bob]
By Mark Lundeen – Re-Blogged From http://www.Gold-Eagle.com
It doesn’t look like it in the Dow Jones’ Bear’s Eye View (BEV) chart below, but in the past three weeks the venerable Dow has increased 1,100 points (4.39%). Three Fridays ago the Dow Jones closed with a 24K handle. Two weeks later it has almost blown through 25,000, closing the week at 25,803. When a market series makes ninety-four new all-time highs in only fourteen months, things like this happen.