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Dow Transports Confirm New Record in the Industrials
By John Murphy

* Saturday, August 3, 2013


The Dow Industrials and Transports are hitting new record highs together once again. That's a sign of an ongoing bull market. [Dow Theory holds that an upside breakout in either one needs to be confirmed by a similar breakout in the other]. Chart 1 shows the Dow Industrials trading at a new record today. Today's action in the transports is even more impressive. Chart 2 shows the Dow Transports climbing 3% to also trade at a new record. The upside action in the transports is also encouraging, since they're considered to be an economically-sensitive stock group. That's especially true of air freight, rails, and trucks. Today's upside leadership is coming mostly from truckers.





http://blogs.stockcharts.com/chartwatchers/2013/08/dow-transports-confirm-new-record-in-the-industrials.html

George.

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