This is something that people like to spew, but the DJIA has two nice properties that make it worth referencing sometimes. (1) Its correlation with the S&P 500

This is something that people like to spew, but the DJIA has two nice properties that make it worth referencing sometimes. (1) Its correlation with the S&P 500 is insanely high. So, just using it as a proxy for the S&P is fine. (2) We've tracked the DJIA going back over a hundred years, so that data is readily available. Overall, the S&P 500 is a better index, but criticizing someone for using it in their analysis isn't worth the distraction from their actual thesis.