What's going on, is that the Dow Jones Transportation Index has been caught
in a 6+ month sideways trading range.
Dow Theory states that the DJI and DJT should confirm each other, so many
analysts are waiting to see if we get upside confirmation from the DJT.
Currently, the DJT closed slightly above the low end of its trading range,
so it has a ways to go on the upside in order to earn an upside confirmation.
For many investors, this remains a caution sign until the sideways trending
picks a definite direction.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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