Dow Jones Update 18 December 2025

All equity markets looking nervous

DJIA confirmed below the pivot line, and S&P 500, NASDAQ price action tells us a 5-10% correction is on the cards before the end of the year.

Zooming out a bit, we’re constructive on equities, especially US equities as USD debasement picks up.

To all those calling the top in equities since 2008, it’s all about the denominator!