This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.
Another day in the land of Central Bank bubbles.
According to Bloomberg, transportation stocks have rallied more than 8 percent in a week, realigning them with industrials at new highs in a coupling that is one of the market’s oldest bullish technical indicators. According to the century-old Dow Theory, simultaneous records in the groups trigger a buy signal for U. S. stocks. Optimism that changes in U. S. tax policy will benefit the industry reignited the Dow Jones Transportation Average on Monday, pushing it back to an all-time high along with the industrials gauge.
This post was published at Wall Street Examiner by Anthony B Sanders ‘ December 5, 2017.
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