I don’t have much time to write or to post charts.
Stocks closed strongly last Friday 8th. The Industrials and the SPY (S&P 500) have bettered the last recorded primary bull market closing highs of April 20th, 2016. The Industrials failed to do so.
One of the primary trend signals according to Schannep’s Dow Theory is three indices jointly bettering the last recorded primary bull market closing highs (what he calls to be “in the clear”).
Thus, if the Transports break above their April 20th closing highs, a primary bull market would be signaled.
Without emotions, I’d honor such a signal. No arguments.
Sincerely,
The Dow Theorist
