Dow 11,000 is meaningless

Dow 11,000! Little has changed except for those that believe nominal price charts reflect the real trend. For those than understand the dynamics of devaluation, the rally since 2009 is nothing more than the fourth counter trend rally within a sector downtrend that begin in 1999.

Dow 10,000 today is no longer comparable to Dow 10,000 of March 1999, because the dollar (yardstick) is not constant over time.

Source: Dow 10,000 is meaningless