One of sectors that is attracting a strong bid this week, after Trump’s victory, is the transportation sector. Obviously, the transportations are of strategic importance to the market as a whole, given the Dow Theory signals.
According to Johny Murphy over at Stockcharts, transportation stocks are on the rise and look bullish:
“Dow Transports rising to the highest level in eighteen months. It’s still well off its early 2015 high, but it is now in an uptrend. In fact, it’s rising faster than the industrials. The TRAN/INDU ratio is on the verge of an upside breakout of its own. That’s a sign that the transports are starting to play catch-up. The transportation rally is also broadening out to include more groups.”
That viewpoint is confirmed by our own observations, and one does not need a Phd or master’s degree to come to that conclusion. The chart of the TRAN, representing the Dow Jones Transportation Index, tells the story: after a strong retracement in January of this year, pulling the index back to secular support, it is now on the rise again with no visible resistance until the previous peak of 9250 points, a rise of 9%.
Our GREATEST report: How To Ride The Mega Bull Market In Blockchain And Cryptocurrencies: A Practical Guide which features 20 tips for investors looking for exposure in crypto assets. Get access now >>
Our LATEST report: China’s Stock Market Bullish. 7 High Quality Stock Tips For Long Term Portfolios. Featuring 7 high reward stocks in carefully chosen sectors. Get access now >>
SPECIAL report: Canadian Cannabis Market On Fire. Which Stocks To Buy. Featuring 5 very high reward stocks. Get access now >>
Follow official Ethereum prices in real-time. Read daily Ethereum price news on www.ethereumprice.today >>