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December Low Indicator Triggers – Watch Out!

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Cold and real war fears rattled Wall Street today triggering
The December Low Indicator. As we explain on page 36 of the 2022
Stock Trader’s Almanac
when the DJIA closes below its December closing low
in Q1 it is a “Watch Out!” warning. In the process DJIA registered its fourth Down
Friday/Down Monday
of 2022, which is another
warning sign detailed on page 78 of the 2022
Almanac
. We have been expressing our concern in recent weeks about the heavy
technical selling pressure
the market has been under as well as the looming
geopolitical hostilities and the general malaise that comes with the Midterm
Election
, especially under first term democratic presidents. As illustrated
in the charts 2022 has already reached the average downside levels for midterm
years and years DJIA breached its December closing low in Q1, but support looks
precarious here and if it does not hold soon lower lows are likely.

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