Bloomberg poll states, " Among those who own stocks, bonds or mutual funds, only three of 10 people say the value of their portfolio has risen since a year ago." Now the author of the article, restates the media mantra declaring a bull market is underway.Are we sure? From its high the DJIA declined over -54% in a 17 month fall. We now are experiencing a twelve month rally but remain over -23% off the all time highs set in October of 2007. More will follow on the Nasdaq 100 and S&P 500 but here is a chart of the DJIA lows made after rally roll overs since 1974. A rally roll over low is a low made after declines from higher highs.
