What a wild week; I’m overwhelmed! In my articles I usually find a narrative theme with which to insert my graphics in. But this week the only theme that comes to mind is what an awful week it was – just awful. Come to think of it, that’s actually a pretty good theme to use for a week like this. So all hands standby for heavy rolls to both the port and starboard, as here’s the Bear’s Eye View of the Dow Jones.
Every day this week the Dow Jones saw a 2% day, a day of extreme-market volatility and almost broke below its BEV -30% line on Thursday. It’s hard to believe, but the Dow Jones saw its last BEV Zero (all-time high) just a month ago (twenty-two NYSE trading sessions ago) on February 12th. Since then the bottom has fallen out of the stock market as painfully evident in the BEV chart below.
Starting next week, I’m recalibrating my Dow Jones Corrections based on something more than just a 30% decline. Thursday saw the Dow Jones’ BEV value close at -28.26%.