Gold & Dow Inflation Adjusted
Posted on December 11, 2015 by Martin Armstrong QUESTION:
Mr. Armstrong, you have said that gold adjusted for inflation has not exceeded the 1980 high. Have we exceeded the 1929 high in the stock market?
Dow Jones Industrial in LOG ScaleANSWER
: The 1929 high on the Dow Jones Industrials was 386. That adjusted for inflation in 2015 dollars would be $5,300.43 assuming each point in $1. So yes, we have obviously well exceeded that level and it equates to support in the 15,000 area today which is about a 300% multiple. That equivalent in gold would be major resistance which would be in the $6,000 level.
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