- Posted September 7, 2012 by
What new highs?
The S&P made new highs. But according to Market Tech Bill Erman, the most important index is the Dow.
The Dow tried very hard to exceed the highs made May 1 as well has the highs in August. But it missed making new highs by a very small amount. Why is this relevant?
Some market technicians would consider this a double or a triple top, if the market can not pass this point.
This would be typical for a September which is historically the down going month for the market.