Thursday, September 18, 2014

Dow Theory Still Bullish

by Bespoke Investment Group

One index that has done very well over the last couple of months is the Dow Jones Transportation Index. As shown below, while the Dow Jones Industrial Average has yet to make a new high, the Dow Transports index has broken out nicely. In fact, the Dow Transports index is up nearly 17% year-to-date, which is 13 percentage points more than the Dow Industrial's minimal YTD gain of 3.46%. Many investors look for the Transports to lead the way, and the fact that it has done so well is a bullish sign for the major indices like the Dow and S&P 500, in our view.

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