QUESTION:
Marty,
Could you please Clarify?
On Oct 31, based on stock charts, the DOW closed at 17390.52, ABOVE the September high of 17297 and intraday high of 17350. But you said Sept high was 17042.90?
On Nov 1 you said we did not exceed the September high and did not close above it.
BUT WE DID!!!
So is the sling shot move confirmed or not???
Best,
TD
REPLY: How the Dow is calculated be it theoretical or actual does make a difference some times. You will see in the data we use posted in the Global Market Watch is the theoretical Dow where it should have trade based upon all stocks. This is the more standard index. You will see this data in CSI as well. On this basis, the September high was 17414 so we did not close above that high. If we used the actual Dow. the numbers would be different accordingly. So no – the Sling-Shot Move was not confirmed.
You can always check the Global Market Watch for the data. In some futures, there can be difference depending upon do they use the actual closing of the exchange or the electronic trading. The GMW shows the data we use in each case.
