The Schannep Timing Indicator

& TheDowTheory.com

The following "Official" Detailed Record of The Dow Theory was compiled from articles in Barron's, early editions of Technical Analysis of Stock Trends, and elsewhere as indicated by the "Note" opposite each Signal, and explained in detail at the end of the compilation. The type of Signal is indicated by (B-1), (S-2), etc, shown under the actual Signal. For the most part this is the 'traditional' interpretation and is used in the newest edition of Technical Analysis of Stock Trends:

Dow Theory	Note	Date	Industrial Average	% Change	Status	Date	Transport Average	% Change

BUY	TA	7/12/1897	44.61
SELL	TA	12/16/99	63.84
		9/24/1900	52.96		Bear Market Low
BUY	TA	10/20/00	59.44
		6/17/01	78.26		Bull Market High
SELL	TA	6/1/03	59.59
		11/9/03	42.15		Bear Market Low
BUY	TA	7/12/04	51.37
		1/19/06	103.00		Bull Market High
SELL	TA	4/26/06	92.44
		11/15/07	53.00		Bear Market Low
BUY	TA	4/24/08	70.01
		11/19/09	100.53		Bull Market High
SELL	TA	5/3/10	84.72
BUY	TA	10/10/10	81.91
		9/25/11	72.94		Bear Market Low
		9/30/12	94.15		Bull Market High
SELL	TA	1/14/13	84.96
		12/24/14	53.17		Bear Market Low	*changed	basis was	71.00
BUY	TA	4/9/15	65.02
		11/21/16	110.15		Bull Market High
SELL	TA	8/28/17	86.12
		12/19/17	65.95		Bear Market Low
BUY	TA	5/13/18	82.16
		11/03/19	119.62		Bull Market High	5/26	91.13
		12/22	103.55	13.4%	Pullback	12/12	73.63	19.2%
		01/03/20	109.88	6.1%	Bounce	1/3	76.48	3.9%
		1/14	102.00		Breakdown	2/3	73.56
SELL	TA&B	02/03/20	99.96				73.56
(S-1)		08/24/21	63.90		Bear Market Low		65.52
		12/15	81.50	27.5%	Bounce	11/29	76.66	17.0%
		01/10/22	78.59	3.6%	Pullback	12/23	73.30	4.4%
		1/17	81.90		Breakup	2/6	76.70
BUY	TA&B	02/06/22	83.70				76.70
(B-1)		10/14	103.43		Mkt highs	9/11	93.99
		11/27	92.03	11.0%	Pullback	11/27	82.17	12.6%
		03/20/23	105.38	14.5%	Bull High/Bounce	3/3	90.63	10.3%
		5/21	92.77	12.0%	Pullback	5/7	80.37
		5/29	97.66	5.3%	Bounce
SELL	TA&B	06/20/23	90.81		Breakdown		80.60
(S-2)		7/31	86.91		Mkt lows	8/4	76.78
		8/29	93.70	7.8%	Bounce	10/6	80.81	5.2%
		10/27/23	85.76	8.5%	Bear Low/Pullback	10/26	77.65	3.9%
BUY	TA&B	12/07/23	93.80		Breakup	11/13	81.20
(B-2)		09/03/29	381.17		Bull Market High	9/3	189.11
		10/4	325.17	14.7%	Pullback	10/4	168.26	11.0%
		10/10	352.86	8.5%	Bounce	10/11	178.53	6.1%
		10/19	323.87		Breakdown	10/23	167.28
SELL	TA&B	10/23/29	305.85
(S-1)		07/08/32	41.22		Bear Market Low	7/8	13.23
		9/7	79.93	93.9%	Bounce	9/3	39.27	196%
		2/27	50.16	37.2%	Pullback	2/25	23.43	40.3%
BUY	TA&B	05/24/33	84.29		Breakup	5/24	40.28
(B-1)		03/10/37	194.40		Bull Market High	3/17	64.46
		6/14	165.51	14.9%	Pullback	6/28	50.17	22.2%
		8/14	190.02	14.8%	Bounce	7/24	55.05	9.7%
SELL	TA&B	09/07/37	164.39		Breakdown	8/27	49.40
(S-1)		03/31/38	98.95		Bear Market Low	3/31	19.00
		4/16	121.00	22.3%	Bounce	5/9	23.50	23.7%
		5/31	107.74	11.0%	Pullback	6/17	19.68	16.3%
		6/21	121.34		Breakup	6/23	24.60
BUY	TA&B	06/23/38	127.40
(B-1)		11/12/38	158.41		Bull Market High	1/4/39	34.33
		01/26/39	136.42	13.9%	Pullback	1/26	27.93	18.6%
		3/10	152.28	11.6%	Bounce	3/8	33.66	20.5%
SELL	TA&B	03/31/39	131.84		Breakdown	3/31	26.38
(S-1)		4/8	121.44		Mkt lows	4/8	24.14
		6/10	140.14	15.4%	Bounce	5/31	28.45	17.9%
		6/29	130.05	7.2%	Pullback	6/30	25.85	9.1%
BUY	TA&B	07/17/39	142.58		Breakup	7/17	29.14
(B-1)		9/12	155.92		Mkt highs	9/27	35.90
		1/15/40	144.65	7.2%	Pullback	3/16	29.78	17.0%
		4/8	151.29	4.6%	Bounce	4/6	32.08	7.7%
SELL	TA&B	05/13/40	137.63		Breakdown	5/13	27.83
(S-1)		04/28/42	92.92		Bear Market Low	5/21/40	22.14
		11/9	117.30	26.2%	Bounce	11/2	29.28	32.2%
		11/24	114.10	2.7%	Pullback	12/14	26.03	11.1%
		12/17	118.68		Breakup	2/1	29.55
BUY	TA	2/1/43	125.86
(B-2)		05/29/46	212.50		Bull Market High	6/13	69.31
		7/22	195.22	8.1%	Pullback	7/23	60.41	12.8%
		8/13	204.52	4.8%	Bounce	8/2	63.63	5.3%
SELL	TA&B	08/27/46	191.04		Breakdown	8/27	58.04
(S-1)		5/17	163.21		Mkt lows	5/19	41.16
		7/24	186.85	14.5%	Bounce	1/2	53.85	30.8%
		03/16/48	165.39	11.5%	Pullback	2/10	48.13	10.6%
BUY	B	05/14/48	188.60		Breakup	4/3	53.93
(B-1)		6/15	193.16		Mkt highs	7/14	64.95
		9/27	175.99	8.9%	Pullback	9/27	57.45	11.5%
		10/23	190.19	8.1%	Bounce	10/23	62.24	8.3%
SELL	B	11/09/48	173.94		Breakdown	11/5	56.22
(S-1)		06/13/49	161.60		Bear Market Low	6/13	41.03
		06/12/50	228.38	41.3%	Bounce	5/20	56.96	38.8%
		7/13	197.46	13.5%	Pullback	6/29	51.24	10.0%
BUY	TA&B	10/02/50	228.94		Breakup	7/19	57.10
(B-1)		01/05/53	293.79		Mkt highs	12/22/52	112.53
		2/18	281.14	4.3%	Pullback	2/10	106.90	5.0%
		3/17	290.64	3.4%	Bounce	3/17	112.03	4.8%
		03/31	279.87		Breakdown	4/2	106.11
SELL	TA	4/2/53	280.03
(S-1)		9/14	255.49		Mkt lows	9/14	90.56
		12/18	283.54	11.0%	Bounce	12/1	98.91	9.2%
		12/29	278.30	1.8%	Pullback	12/29	93.58	5.4%
		1/6/54	283.96		Breakup	01/19/54	99.43
BUY	TA&S	1/19/54	288.27
(B-5)		04/06/56	521.05		Bull Market High	5/9	181.23
		05/28/56	468.81	10.0%	Pullback	5/28	161.60	10.8%
		8/2	520.95	11.1%	Bounce	7/25	171.37	6.0%
SELL	TA&S	10/01/56	468.70		Breakdown	8/22	161.28
(S-1)		10/22/57	419.79		Bear Market Low	12/24	95.67
		02/04/58	458.65	9.3%	Bounce	2/4	111.16	16.2%
		2/25	436.89	4.7%	Pullback	4/7	100.67	9.4%
BUY	B&S	05/02/58	459.56		Breakup	4/21	111.60
(B-1)		08/03/59	678.10		Mkt highs	7/7	173.56
		9/22	616.45	9.1%	Pullback	11/17	146.65	15.5%
		01/05/60	685.47	11.2%	New high/Bounce	1/5	160.43	9.4%
		2/16	611.33		Breakdown	3/3	142.98
SELL	B&S	03/03/60	612.05
(S-2)		10/25	566.05		Mkt lows	9/29	123.37
		04/17/61	696.72	23.1%	Bounce	3/22	150.81	22.2%
		4/24	672.66	3.5%	Pullback	4/25	140.04	7.1%
		5/19	705.96		Bounce/lower	5/17	148.02
		7/18	679.30		Pullback/lower	7/19	133.49
BUY	B&S	10/10/61	706.67		Breakup	10/10	150.91
(B-3)		12/13/61	734.91		Bull Market High	10/11	152.92
		01/29/62	689.92	6.1%	Pullback	12/20	140.66	8.0%
		3/15	723.54	4.9%	Bounce	2/2	149.83	6.5%
		4/12	685.67		Breakdown	4/26	140.28
SELL	B&S	04/26/62	678.68
(S-1)		06/26/62	535.76		Bear Market Low	6/25	115.89
		8/23	616.00	15.0%	Bounce	7/17	125.49	8.3%
		10/23	558.06	9.4%	Pullback	10/1	114.86	8.5%
BUY	B&S	11/09/62	616.13*		Breakup	11/9	126.05
(B-1)		02/09/66	995.15		Bull Market High	2/15	271.72
		3/15	911.08	8.4%	Pullback	3/15	243.60	10.3%
		4/21	954.73	4.8%	Bounce	4/20	265.97	9.2%
SELL	B&S	05/05/66	899.77		Breakdown	5/5	240.96
(S-1)		10/07/66	744.32		Bear Market Low	10/7	184.34
		11/16	820.87	10.3%	Bounce	11/16	208.79	13.3%
		12/2	789.47	3.8%	Pullback	11/22	199.54	4.4%
		12/12	820.54		Lower/Bounce	12/22	209.07
		12/30	785.69		Lower/Pullback	12/30	202.97
BUY	S,3&4	01/11/67	822.49		Breakup	1/6	209.19
(B-3)		8/9	926.72		Mkt highs	8/4	274.49
		8/30	893.72	3.6%	Pullback	8/22	256.06	6.7%
		9/25	943.08	5.5%	New high/Bounce	9/18	265.11	3.5%
SELL	S,3&4	10/24/67	888.18		Breakdown	10/10	254.59
(S-2)		3/21	825.13		Mkt lows	3/5	214.58
		7/15	923.72	11.9%	Bounce	7/8	269.61	25.6%
		8/9	869.65	5.9%	Pullback	8/9	245.76	8.8%
		9/9	924.98		Breakup	10/1	270.24
BUY	S	10/01/68	942.32
(B-1)		12/03/68	985.21		Bull Market High	12/1	279.48
		01/08/69	921.25	6.5%	Pullback	1/13	260.04	7.0%
		2/13	952.70	3.4%	Bounce/new high	2/7	279.88	7.6%
		2/20	916.65		Breakdown	2/25	257.07
SELL	S,3&4	02/25/69	899.80
(S-2)		7/29	801.96		Mkt lows	7/30	193.19
		9/2	837.78	4.5%	Bounce	8/22	202.02	4.6%
		9/8	811.84	3.1%	Pullback	10/9	194.72	3.6%
		10/16	838.77		Breakup	10/27	202.37
BUY	S,3&4	10/27/69	860.28
(B-1)		11/10	863.05		Mkt highs	10/28	202.45
		12/17	769.93	10.8%	Pullback	12/16	169.43	16.3%
		01/05/70	811.31	5.4%	Bounce	1/5	183.31	8.2%
SELL	S,3&4	01/26/70	768.88		Breakdown	1/26	168.98
(S-1)		05/26/70	631.16		Bear Market Low	5/26	131.53
		6/19	720.43	14.1%	Bounce	6/3	146.98	11.7%
		7/7	669.36	7.1%	Pullback/new low	7/7	116.69	20.6%
		7/16	723.44		Breakup	9/28	148.21
BUY	S,3&4	09/28/70	758.97*
(B-2)		04/28/71	950.82		Mkt highs	4/28	232.79
		6/28	873.10	8.2%	Pullback	6/28	208.89	10.3%
		7/12	903.40	3.5%	Bounce	7/12	220.21	5.4%
SELL	S	07/28/71	872.01		Breakdown	7/28	208.06
(S-1)		8/10	839.59		Mkt lows	8/4	203.61
		9/8	920.93	9.7%	Bounce	9/7	248.33	22.0%
		11/23	797.97	13.4%	New low/Pullbck	11/23	208.43	16.1%
BUY	S	02/10/72	921.28		Breakup	1/12	249.08
(B-2)		01/11/73	1051.7		Bull Market High	12/11/72	240.41
		2/27	947.72	9.9%	Pullback	3/5	191.58	20.3%
		3/7	979.98	3.4%	Bounce	3/7	198.35	3.5%
SELL	S	03/23/73	922.71		Breakdown	3/23	189.22
(S-1)		10/4/74	584.56		Mkt lows	10/3	125.93
		11/5	674.75	15.4%	Bounce	11/7	156.61	24.4%
		12/6	577.60	14.4%	Bear Low/Pullback	12/16	138.31	4.7%
BUY	S	1/27/75	692,66		Breakup	1/27	156.79
(B-1)		09/21/76	1014.79		Bull Market High	7/14	231.27
		10/12	932.35	8.1%	Pullback	10/12	203.85	11.9%
		12/31	1004.65	7.8%	Bounce/new high	01/03/77	237.52	16.5%
		05/31/77	898.66		New low/Pullbck	2/25	221.81
		6/24	929.70		Bounce/new high	5/18	246.64
		7/27	888.43		Breakdown	8/9	220.88
SELL	S&4	10/24/77	802.32		Break 1st Pullbck	10/24	201.74
(S-3)		02/28/78	742.72		Bear Market Low	3/9	199.31
		5/17	858.37	15.6%	Bounce	5/22	231.30	16.1%
		5/26	831.69	3.1%	Pullback	5/26	223.70	3.3%
		6/5	863.83		Breakup	6/6	231.35
BUY	S&4	06/06/78	866.51
(B-1)		04/27/81	1024.05		Bull Market High	4/16	447.38
		5/11	963.44	5.9%	Pullback	5/11	410.28	8.3%
		6/15	1011.99	5.0%	Bounce	6/1	430.92	5.0%
SELL	S&3	07/02/81	959.19		Breakdown	7/2	409.60
(S-1)		08/12/82	776.92		Bear Market Low	8/12	292.12
		9/21	934.79	20.3%	Bounce	9/14	375.45	28.5%
		9/30	896.25	4.1%	Pullback	9/30	360.46	4.0%
		10/6	944.26		Breakup	10/7
BUY	S	10/07/82	965.97
(B-1)		11/29/83	1287.20		Mkt highs	11/22	612.57
		12/15	1236.79	3.9%	Pullback	12/22	587.07	4.2%
		01/06/84	1286.64	4.0%	Bounce/new high	1/9	612.63	4.4%
SELL	S	01/25/84	1231.89		Breakdown	1/24	585.29
(S-2)		7/24	1086.57		Mkt lows	7/25	444.03
		9/17	1237.52	13.9%	Bounce	9/14	526.52	18.6%
		12/7	1163.21	6.0%	Pullback	10/9	508.48	3.4%
BUY	S	01/21/85	1261.37		Breakup	10/18	542.53
(B-1)		08/25/87	2722.42		Bull Market High	8/14	1101.16
		9/21	2492.82	8.4%	Pullback	9/21	1005.80	8.7%
		10/2	2640.99	5.9%	Bounce	10/2	1064.41	5.8%
		10/14	2412.70		Breakdown	10/15	980.24
SELL	S,5&6	10/15/87	2355.09
(S-1)		10/19/87	1738.74		Bear Market Low	10/26	674.92
		11/12	1960.21	12.7%	Bounce	11/12	750.14	11.1%
		11/19	1895.39	3.3%	Pullback/New Low	11/20	726.29	3.2%
		11/24	1963.53		Breakup/lower bounce	11/24	740.71
		12/4	1766.74		Lower Pullback/ Bear low	12/4	661.00
BUY	S	12/18/87	1975.30		Breakup	12/16	764.71
(B-4)		09/01/89	2752.09		Mkt Highs	9/5	1532.01
		9/25	2659.19	3.4%	Pullback	9/26	1424.96	7.0%
		10/9	2791.41	5.0%	New high/Bounce	10/9	1518.49	6.6%
SELL	S	10/13/89	2569.26		Breakdown	10/13	1406.29
(S-2)		1/30	2543.24		Mkt lows	1/30	1031.83
		4/17	2765.77	8.7%	Bounce	3/27	1192.57	15.6%
		4/27	2645.05	4.4%	Pullback	4/27	1128.20	5.4%
		5/11	2801.58		Breakup	6/4	1207.85
BUY	S	6/4/90	2935.19
(B-1)		6/15	2935.89		Mkt Highs	6/6	1212.77
		6/26	2842.33	3.2%	Pullback	7/5	1131.02	6.7%
		07/16/90	2999.75	5.5%	Bull High/Bounce	7/16	1189.60	5.2%
SELL	S	8/03/90	2809.65		Breakdown	7/30	1125.00
(S-2)		10/11/90	2365.10		Bear Market Low	10/17	821.93
		12/26	2637.13	11.5%	Bounce	12/21	923.91	12.4%
		1/9/91	2470.30	6.3%	Pullback	1/7	894.30	3.2%
BUY	S	1/18/91	2646.78		Breakup	1/17	979.56
(B-1)		5/13/98	9211.84		Mkt Highs	4/16	3686.02
		6/15	8627.93	6.3%	Pullback	6/2	3259.30	11.6%
		7/17/98	9337.97	8.2%	Bull High/Bounce	7/14	3618.73	11.0%
SELL	S,5&6	8/04/98	8487.31		Breakdown	7/29	3244.93
(S-2)		8/31	7539.07		Bear Market Low	9/4	2616.75
		9/23	8154.41	8.1%	Bounce	9/23	2904.10	11.0%
		10/1	7632.53	6.4%	Pullback/new low	10/8	2345.00	19.3%
		10/15	8299.36		Breakup	11/2	2954.85
BUY	S	11/2/98	8706.50
(B-1)		5/13/99	11107.19		Mkt Highs	5/12/99	3783.50
		5/27	10466.93	5.8%	Pullback	6/25	3316.11	12.4%
		7/16	11209.84	7.1%	Mkt High/Bounce	7/2	3515.99	6.0%
		8/2	10645.96		Pullback/New Low	8/11	3130.53
		8/25	11326.04		Mkt High/Bounce	8/25	3309.25
SELL	S&5	9/23/99	10318.59		Break 1st Pullback	9/23	2895.98
(S-3)		1/14/00	11722.98		Bull Market High
		9/21/01	8235.81		Bear Market Low	9/20	2033.86
		10/26	9545.17	12.9%	Bounce	10/11	2314.80	13.8%
		10/31	9075.14	4.9%	Pullback	10/19	2174.28	6.1%
		11/6	9591.12		Breakup	11/8	2320.98
BUY	S	11/8/01	9587.52
(B-1)		3/19/02	10635.25		Bull Market High	3/4	3049.96
		5/6	9808.04	7.8%	Pullback	5/10	2643.10	13.5%
		5/17	10353.08	5.5%	Bounce	5/17	2798.36	5.8%
		6/3	9709.79		Breakdown	6/25	2627.92
SELL	S	6/25/02	9126.80
(S-1)		10/9	7286.27		Bear Market low	10/9	2013.02
		11/6	8771.01	20.4%	Bounce	11/6	2413.71	19.9%
		11/11	8358.95	4.7%	Pullback	11/26	2268.35	6.0%
		11/21	8845.15		Breakup	1/6/03	2421.71
BUY	S	1/6/03	8773.57
(B-1)		7/19/07	14000.41		Mkt highs	7/19/07	5446.49
		8/16	12845.78	8.2%	Pullback	8/16	4671.88	14.2%
		10/9	14164.53	10.3%	New high/Bounce	10/5	4997.17	7.0%
SELL	S,5&7	11/21/07	12799.04		Breakdown	11/7	4663.35
(S-2)		3/10/08	11740.15		Bear Market Low	1/17	4140.29
		4/1	12654.36	7.8%	Bounce	4/3	4999.93	16.5%
		4/14	12302.06	2.8%	Pullback	4/9	4803.10	3.9%
BUY	S,5&7	4/18/08	12849.36		Breakup	4/16	5073.41
(B-1)		5/2	13058.20		Mkt highs	6/5	5492.95
		7/15	10962.54	16.0%	Pullback	7/15	4657.56	15.2%
		8/11	11782.35	7.5%	Bounce	8/8	5216.50	12.0%
SELL	S	9/29/08	10365.45		Breakdown	9/29	4503.89
(S-1)		3/9/09	6547.05		Bear Market Low	3/9/09	2146.89
		4/3	8017.59	22.5%	Bounce	4/3	2978.32	38.7%
		4/7	7789.56	2.8%	Pullback	4/7	2796.92	6.1%
BUY	S	4/9/09	8083.38		Breakup	4/9	2988.99
(B-1)		4/26/10	11205.03		Mkt highs	5/3/10	4806.01
		6/7	9816.49	12.4%	Pullback	6/7	4037.98	13.7%
		6/18	10450.64	6.5%	Bounce	6/15	4467.25	6.4%
SELL	S&7	6/30/10	9774.02		Breakdown	6/30	4007.84
(S-1)

Update for the most recent 60 days is available for Subscribers only.

Note "TA" is from Edwards & Magee in Technical Analysis of Stock Trends, which showed signals from 1897 through 1956 and thereafter use my interpretation to the current date.
Note "B" signals were compiled from studies by Robert Rhea; Perry P. Greiner and Hale C. Whitcomb; Harvey A.. Krow, and Ned Davis in Barron's (9/5/77) "How Now, Dow Theory?" by John C. Boland. Their signals began in 1920 and ran through 1975.
Note "S": Jack Schannep has confirmed and updated the signals to the present, using the Dow/Hamilton/Rhea method.
Note #3: Ned Davis of Ned Davis Research was quoted in Barron's (7/9/84) Editorial Commentary by Robert M. Bleiberg "Way Above Average, For a Century Dow Theory Has Served Investors Well".
Note #4: Robert W. Ross was V.P. at Shearson, and an avid student of Rhea, Hamilton & Dow.
Note #5: Richard Russell publishes the Dow Theory Letters.
Note #6: Charles B. Carlson was Editor of Dow Theory Forecasts.
Note #7: Richard Moroney, Editor of Dow Theory Forecasts.

This site can be accessed at either www.TheDowTheory.com or www.TimingIndicator.com
Historical market statistics, while believed accurate, and past performance cannot guarantee future results.
Newsletter established in 1977. Copyright� 1998-2012 Schannep Timing Indicator, L.L.C. All rights reserved.
Reproduction is allowed with credit to the Schannep Timing Indicator & TheDowTheory.com Newsletter
(www.TimingIndicator.com and/or www.TheDowTheory.com).
This Newsletter is completely independent. We take no ads, sell no products and receive no commissions.
Our only revenue comes from paid subscriptions and book royalties.
We do NOT reveal, sell or share our subscribers with ANYONE. Please E-Mail any suggestions, problems, or questions to: Editor@TheDowTheory.com
We will answer all of your e-mails, and try to solve any problems. You can also FAX us at (520)327-1775 or mail at 5191 E. Hill Place Tucson AZ 85712
Thank you for your interest.