wow! .. a lot of info to take in .. better get some coffee .. or maybe just get some sleep! I certainly would not buy and hold without watching the market's health .. I just think it will turn out to be a nice extra confirming, risk-lowering indicator. It's the same concept that Larry uses with Semis.
Dow Theory isn't limited to requiring double tops and bottoms. More generally, it needs confirmation of a change in trend; otherwise the price/volume action is simply the continuation of the existing trend. The type of confirmation depends on the type of top or bottom that is being formed.
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