Market Comment


Helped by strength in trucking, airfreight, and airline stocks, the Dow Transports have rallied within 1% of their February high of 5,368.93. The Dow Industrials are roughly 2.7% from their October high of 13,610.15. With closes in both averages above those levels, the bullish primary trend would be reconfirmed under the Dow Theory.

A near-term failure to break above those levels would be discouraging, as it would set the table for a bear-market signal. Without closes above 13,610.15 in the Industrials and 5,368.93 in the Transports, a breakdown below the respective November lows of 12,542.38 and 4,891.27 would put the Dow Theory in the bearish camp.

For now, we are holding 9% to 11% of equity portfolios in a short-term bond fund as we watch the averages.

Current Hotline

Stock Spotlight

Individual Stock Reports

ISRs make stock research easy!

Perhaps the most valuable two page reports available anywhere.

All the data you would normally have to plow through years of 10-K filings, earnings reports, and reams of market data to assemble — yours all in one concise report.

ISRs contain our proprietary Quadrix scores — find out how we rate all the stocks in the S&P 500.

Visit us at