DOW theory signals - back in Bearmarket.

Richard Russell reports a major DOW theory signal for resumption of the Bear Market.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/29_Richard_Russell_-_IMPORTANT_-_Major_Bear_Market_Signal.html

According to the charts, the DOW Industrials made a new high on May 1, but this was not confirmed by the Transports. Then both averages broke below a previous low.

Russell believes that the driving force for the Bear is the expected exit of Greece from the EU and later, default by Greece and then Spain.

My belief is that the FED and the ECB will print before that happens. The FED meets a couple of days after the Greek election, which may give the FED the expected push to do QE3. Larry figures that the FED will now watch the DOW and a likely point is 11,500 for the FED to act. Gold and silver miners have been rising in expectation of gold going higher.