Now that a bottom has been established, within the context of a bear market, we can calculate the bear market rally targets according to Dow Theory. The upside targets are:
- 11,527.87
- 11.767.18
- 12,073.49
- 12,724.41
- 12,807.51
A new bull market would be considered when the Dow Industrials and Dow Transports jointly exceed the prior highs set in May 2011, respectively.
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