Chart of the Day - Monday, June 29th, 2020

Today's Chart of the Day was shared on Twitter by Ian McMillan (@the_chart_life). It's a logarithmic chart of the Dow Jones Industrial Average over the past 105 years. Ian lets us in on a little industry secret - stocks have been in a primary uptrend for decades. For this incredibly simple reason, it generally pays to be an optimist in this business. So does this mean we should be Perma bulls? No. As we know, secondary trends exist within the primary trend, and when those shorter-term trends are down, it's wise to be tactically bearish. Also, primary trends aren't guaranteed to last forever, just ask Japanese investors. But as long as this chart is moving up and to the right, it makes sense to be a long-term bull on US Stocks. In the wise words of market wizard, Marty Zweig - "It's suicidal to fight trends. They have a higher probability of continuing than not."