Wednesday, April 30, 2014
Apr 23. Dow Theory Confirmation.
The Dow Jones Industrial ($INDU) and the Dow Jones Transportation ($TRAN) printed its new secondary highs in December 2013 and January 2014, respectively. Both averages experienced a decline in the beginning of 2014 only to start rising in February again. Since then the TRAN has made three consecutive new highs while the INDU has been struggling to overcome its December high. Today the INDU has closed at a new high thus confirming that the market primary uptrend is still intact.