Could it be? A multi-year breakout after shredding Dow Theorist’s convictions with endless divergences to the rest of the market?
The weekly chart of the Dow Jones Transportation Average is sure threatening a big move here. The airlines and rails have held firm, as have air freight carriers like FDX and UPS who got off the mat after getting slaughtered earlier in the year.
Look for the move above 5,200 to hold.