WEAK RETAILERS AS PREDICTORS
                             OF
BEAR MARKETS and DJI DECLINES OF MORE THAN  15%
 
   Sept 1987   JCP completes head/shoulders a month before SPX broke down.
   June 1990   JCP breaks below well-tested flat support 2 months before SPX broke down.
    Aug 1990   JCP breaks below well-tested flat support 2 months before SPX broke down.
    July 1998   JCP breaks below well-tested flat support 2 months before SPX broke down.
    Sept 2000   JCP breaks below well-tested diagonal uptrend-support 3 weeks before SPX.
    2002            JCP and SPX behave similarly.
    June 2007   JCP breaks below well-tested flat support 1 month before SPX broke down.
    May 2011   JCP breaks below well-tested flat support 3 month before SPX broke down.

1987
1990
1998
2000
2002
2007
2011