Two important charts to follow. The first one is the chart of bank stocks (click on the above chart to enlarge). The chart shows how this index telegraphed this correction. The bank stocks are an important leading sector of the market. Stocks cannot rise without bank stocks moving higher.
The above chart shows the transportation average (click on the chart to enlarge). The transportation average has to move above the current resistance level of 3400 to confirm the bull market. The Dow Theory works.
To find out more about my in depth view of the markets and my strategy just visit our website https://www.peterdag.com/ where you can review The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific money management needs. I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes. George Dagnino, PhD
Editor, since 1977
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