[TSP_Strategy] Re: Dow Jones Transports

 

A good sign, but does it have the same meaning as it used to.  I used to follow Dow Theory, but today I am not sure it matters anymore.  Monetary policy and interventions are in the driver's seat for now.

Monetary policy and interventions have always been in the driver's seat. In fact, the anticipation of fed actions  has been driving this market to a greater extent than the fed actions themselves.

If you recall, the Fed anticipated 4 rate hikes this year.  We have yet to see one.  Still, the markets are in nervous anticipation of that next rate hike.

Under Dow Theory, markets return to bull when both industrial and transports are rising.  While the transports greatly underperformed for much of the year, over the past 3 months, they have been up 4.7% while DJIA has been down 2.5%, S&P down 3.7%, and S fund down 4.2%. 

This may be the first robin of spring...

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Posted by: sarah_oz@yahoo.com

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Ditulis oleh: Andriansyah -