New Record Highs for Dow Jones Transports and Russell 2000 a Very Positive Signal
From Profit Confidential
January 28, 2013 - 11:54am
One of the biggest surprises recently has been the powerful breakout of the Dow Jones Transportation Average. It has been years since this index broke out of a trading range with such fervor. Within the index, components such as Union Pacific Corporation (NYSE/UNP), FedEx Corporation (NYSE/FDX), Alaska Air Group, Inc. (NYSE/ALK), J.B. Hunt Transport Services, Inc. (NASDAQ/JBHT) and Southwest Airlines Co. (NYSE/LUV) have all recently experienced strong price momentum on the stock market. It’s as if investor sentiment just changed on a dime.
And this is powerful; this is how stock market rallies begin—all of a sudden the world is different and institutional investors just start buying.
The Dow Jones Industrial Average is ready to test its all-time high set back in 2007 of just over 14,000. Many components of the Dow Jones Industrial Average are trading at or near their all-time highs. ...Continue reading this article »