Trump has once again backed semiannual reporting. What could this mean for stocks?
Dow Theory says the market is in an upward trend if one of its averages -- industrial or transportation, for example -- advances above a previous important high. It is followed by a similar advance in the other.
N-Sync
Lately, the Dow and the Industrial Index's have been in sync, moving higher together.
The iShares DJ Transport Average Index ETF (IYT) now finds itself at the top of channel and Fibonacci 161% extension resistance and a small break of support is taking place.
It's too early to say that a Dow-Theory breakdown is taking place, yet one should continue to watch the Transports very closely to see if further weakness continues and sends a negative Dow-Theory message.
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