Pivots Down and Up in New Year: 1915-2009

Pivots:   20 declines   22 rallies    47 flat for two months -----------------------------------------------------------------------------------------------------------------------------                                       Pivots Down At end of 1915 DJI wa 100. Fell to 86.40 on 7/13/1916 At end of 1916 DJI wa 99. Fell to 65.90 on 12/19/1917 1920 after 11/3/1919 1939 until April 10th 1941 until April 20th 1948 until March 16th 1957 until Feb 12th 1960 until May 2nd 1966 until October 7th 1968 until March 21st 1970 until May 26th 1973 down all year. 1977 down all year. 1978 down until Feb. 28th. 1980 up for three weeks and then down sharply untul April 21st. 1984 down until Juy 25th 1990 fell 10% until end of January. 2000 fell until March 7th 2003 fell until March 12 2008 fell all year. 20 cases ===================================================================================                                          Pivots Up 1918 after 2 weeks in January 1919 after 2/7/1919 1922 from very beginning. Raly started in August 1921. 1927 after hesitation until second week of February. 1930 rose until April 11 and then fell 1931 rose until Feb. 20th and then fell 1937 rose until March 10 and then fell. 1943 rose until July 14th. 1950 rose until June 12th 1954 rose all year 1961 rose all year 1964 rose all year 1967 rose until Septebmebr 26 1971 rose until April 28th 1972 rose all year - though A/D Line lagged after April 12th. 1975 rose until July 16th 1976 rose until April 21st, AD Line peaked on Feb 24th 1983 rose all year 1985 rose all year 1986 rose all year 1987 rose until Aug 25th 1989 rose all year 1991 rose all year 1993 rose all year 1995 rose all year 1996 rose all year 1998 rose until July 17th. 22 cases =================================================================================                     Sidewise for 2 months - within 5% 1921 1923 1924 1925 1926 1928 1929 1933 1935 1940 1944 1945 1946 1947 1949 15 1950 1951 1952 1953 1955 1956 1958 1959 1962 1963 1965 1969 1974 1979 1981 30 1982 1988 1992 1994 1997 1999 2001 2002 2004 2005 2006 2007 47 years