The DJIA is fictional at this point.
It does track partially against the Euro because the Euro tracks partially against the dollar. So, what you are really seeing, is the DJIA tracking against the dollar.
Now, as you say, there is no rhyme or reason. Petroleum used to track very reliably against the dollar, but even that is not the case any longer (the dollar can go up and petroleum can go up to, but for some other reasons).
There is so much devaluing of currencies by other nations (Japan and China) that each currency is bouncing around like atoms in a metal being heated.
To make sense of it, we only need to look at the fundamentals:
Unemployment is over 17%
The subprime situation was not fixed.
The OptionARMs are due to reset.
Commercial real estate is tanking.
The key fundamentals of a Chinese boom are not there (electricity usage, businesses actually occupying those buildings they are erecting).
Tax revenues at the state and federal level are way, way down (so retail is not selling, despite the spin).
Commodities are soaring.
No one is buying US instruments (T-bills, bonds, and notes)
The unstimulating spending is going to have to be repaid.
I check the DJIA a few times a day when I need a laugh. No way should it be at 10,600. It’s been forced there by federal meddling for payola to the mega-banksters (Goldman, JPM, etc.) and is a better market for how much closer to the edge of the financial cliff we are twirling on tiptoes.
B of A is our mortgage company...it was sold to them by a different company about a year ago. I wonder what impact this will have on us?
“No way should it be at 10,600. It’s been forced there by federal meddling for payola to the mega-banksters (Goldman, JPM, etc.)”
Correcto!