Union Pacific printed all-time highs today. As the largest publicly-traded rail, we may very well have a bullish divergence going on here to the rest of the transportation sector, as broadly speaking the group is nowhere close to all-time highs. In addition, this could be a divergence to the rest of the market for the better. These divergences take time to play out, though. So, don’t get too giddy just yet.
However, over the coming weeks I am looking to see not only if UNP holds this move, but also if other transportation stocks follow the lead of UNP, along with the market.
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volume nothing special on this move… obviously doesn’t make it insignificant, but smart of you to caution to wait and see if this sticks..
Rail shipments of oil are up 36% y/y.
thanks