The DJI was again unable to get past the 190-195 resistance in
June 1948.  It formed a bearish head and shoulders pattern and
broke below the neckline in June.  The pattern’s bearish reliabity
was heightened by the fact that both its P-Indicator and its Accumulation
Index were negative on the right shoulder.  The decline was again
for a while exhausted in October and November, as the DJI fell to
the 3.5% lower band with both the P-Indicator and the Accumulation
Index positive

1948 Britain's House of Commons votes to nationalize steel industry
Communists seize power in Czechoslovakia (Feb. 23–25).
(April 30). Nation of Israel proclaimed; British end mandate at midnight; Arab armies attack (May 14). Berlin blockade begins (June 24), prompting Allied airlift (June 26). (Blockade ends May 12, 1949; airlift continues until Sept. 30, 1949.) Stalin and Tito break (June 28). Independent Republic of Korea is proclaimed, following election supervised by UN

1948     DJIA AND NYSE A/D LINE AND ITS TREND CHANGE BUYS AND SELLS



1948  PEERLESS DJI, REGULAR BUYS, SELLS AND INTERNAL STRENGTH INDICATORS

1948  PEERLESS DJI, EXTREME BEARISH BUYS, SELLS AND INTERNAL STRENGTH INDICATORS

1948

1948 Britain's House of Commons votes to nationalize steel industry
Communists seize power in Czechoslovakia (Feb. 23–25).
(April 30). Nation of Israel proclaimed; British end mandate at midnight; Arab armies attack (May 14). Berlin blockade begins (June 24), prompting Allied airlift (June 26). (Blockade ends May 12, 1949; airlift continues until Sept. 30, 1949.) Stalin and Tito break (June 28). Independent Republic of Korea is proclaimed, following election supervised by UN
(Dec. 27). Alger Hiss, former U.S. State Department official, indicted on perjury charges after denying passing secret documents to communist spy ring; convicted in second trial (1950) and sentenced to five-year prison term.