While the exploration of the various catalysts that might trigger the next bear market in stocks is certainly an important endeavor, the near-term action in the stock market is fascinating to say the least at the present time.
Thus, we will cross our fingers and hope that the bears can be held off one more day, as the goings on in the stock market demands some analysis this morning. (And we promise to return to our list of Bear Market catalysts on Friday).
In case you don't spend your days pouring over charts, excel spreadsheets full of indicators, and more market models than you can shake a stick at, there is a very large disconnect happening in the market currently.
And since it is quite rare to see the degree of divergence that is occurring, it is worth devoting some time so as to understand what the heck is going on.
It's All Good, Right?
On the 25th anniversary of CNBC hitting the airwaves (time flies when you are having fun, right?) the Dow Jones Industrial Average closed at a fresh all-time high.
See also: 10 Bear Market Catalysts To Be On The Lookout For...
Although you have to squint pretty hard to see it and check the closing number to be sure the DJIA actually did best the high of 16,573 on April 2, 2014, the new high appeared to be a fitting celebration.
DJIA Daily
However, before you run to the computer and check how much margin you've got available in your account, you may want to peruse the rest of the charts contained in this report.
Because, contrary to the hoopla that filled the CNBC sets at yesterday's close, all is not well at the corner of Broad and Wall these days.
Okay, so Exhibit A is the chart of the DJIA ...
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