The real and true definition of a BEAR Market

The Dow currently trades 13% below its all-time record high. For some further perspective into how the stock market is actually performing, today's chart presents the Dow divided by the price of one ounce of gold.

This results in what is referred to as the Dow / gold ratio or the cost of the Dow in ounces of gold.

For example, it currently takes 12.9 ounces of gold to “buy the Dow.”

This is considerably less that the 44.8 ounces back in the year 1999. When priced in that other world currency (gold), the Dow is in the midst of a massive eight year bear market!


Chart of the Day