Dow Theory Confirmation
The relevant confirmation highs are not necessarily the highest highs of the previous bull market. The relevant highs for alternative buy-signal confirmation are the highs of the last completed secondary reaction. In the alternative buy-si…
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The relevant confirmation highs are not necessarily the highest highs of the previous bull market. The relevant highs for alternative buy-signal confirmation are the highs of the last completed secondary reaction. In the alternative buy-signal context, confirmation means both averages must break above the relevant prior highs. Dow Theory confirmation requires the Dow Industrials and the Dow Transportation Average to confirm each other.