Tuesday, August 21, 2018
INDU Dow Jones Industrials and TRAN Dow Jones Transports Daily Charts; Dow Theory Upside Trend Confirmation; Trannies Print New All-Time Record High
The Dow Jones Industrials and Dow Jones Transports are confirming each other with higher highs and higher lows from a Dow Theory perspective. This behavior signals that the upside trend in the daily time frame should continue (after any pull back may occur).
The trannies are a whisker away from a new all-time record high. The record is at 11423.92 from 1/16/18. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 9:40 AM EST: TRAN prints a new all-time record high at 11440.86 as the trading day begins taking out the record from seven months ago. The Dow Industrials will now need to print a new all-time record high to confirm the ongoing upside in the stock market from a Dow Theory perspective. The Dow all-time high is 26614.85 from 1/26/18 and today's HOD thus far is 25850.39. Thus, the Dow needs to gain about 765 points to confirm the record high in the trannies and forecast more record highs for the broad stock indexes ahead.
Note Added 10:31 AM EST: TRAN prints a new all-time record high at 11475.40. TRAN is currently printing 11434.
Note Added 5:37 PM EST: TRAN prints a new all-time record high today at 11475.40 and new all-time closing high at 11436.36. The Dow Jones Industrials has its work cut out for it needing to rally well over 700 points to print a new record high and confirm more upside for the stock market from a Dow Theory perspective.