Charles Dow

"On the late Charles H. Dow's well-known method of reading the stock market movement from the Dow Jones Averages, the twenty railroad stocks on Wednesday October 23 confirmed a bearish indication given by the industrials two days before. Together the averages gave the signal for a bear market in stocks after a major bull market with the unprecedented duration of almost six years..." William P. HamiltonFrom editorial in the Wall Street Journal October 25, 1929well-known method of reading the stock market movement from the Dow Jones Averages, the twenty railroad stocks on Wednesday October 23 confirmed a bearish indication given by the industrials two days before. Together the averages gave the signal for a bear market in stocks after a major bull market with the unprecedented duration of almost six years..." William P. HamiltonFrom editorial in the Wall Street Journal October 25, 1929