This week it wasn’t just the Dow Jones making new all-time highs in the market. As evident in my table below, listing daily BEV values for the major market indexes I track, there were sixty-two of one hundred possible new BEV Zeros to be seen. Those daily closings that weren’t BEV...
A more comprehensive view of the past 136-year history of the Dow Jones is seen in its Bear’s Eye View (BEV) of daily closings since February 1885 to this week’s close (chart above). The BEV takes any market data series and compresses it into a range of only 100%; 0.00% is a...
In the last five years of the 1920s (right table) the Dow Jones daily closed at a new all-time high, or within 5% of one for 75% of its daily closings – wow! This is why the 1920s roared, and when this market bubble deflated in the 1930s why everything became so depressing. ...