Market Indexes
The S&P 500 does not have to be one of the confirming indexes. Capitulation analysis should reflect broad market weakness rather than weakness in only one index. Buy and sell signals are derived through confirmation across the three indexe…
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The S&P 500 does not have to be one of the confirming indexes. Capitulation analysis should reflect broad market weakness rather than weakness in only one index. Buy and sell signals are derived through confirmation across the three indexes. At least two of the three monitored indexes must exceed the capitulation threshold for confirmation. Each index must be assessed against the lows of its last completed secondary reaction for the alternative sell signal. Dow Theory 30 uses the S&P 500, Dow Industrials, and Dow Transports.