A century-old stock market indicator, known as the Dow Theory, has issued a bullish signal this week for the first time in over a year. The Dow Theory flashed a buy signal when both the Dow Jones Industrial Average and the Dow Jones Transportation Average reached record highs on Tuesday. This trend could suggest that the bull market, which started in late 2022, remains firmly intact.
On Tuesday, the Dow industrials reached its first new high since 5 January, while the Dow transports had not hit a fresh record high for a much longer period prior to this week. Ralph Acampora, co-founder of the CMT Association, explained, 'It confirms that the secular bull market is alive and well.'
