I'm rather sick today ... but I could still take three seconds to look at the Dow Jones and Transportation indexes to discern the trend. The Trans has decisively broken to new all time highs and no one seems to care. Silly folks!
The Dow MUST break its last intermediate high of 13610.16 as well as its all time high for the trend to remain up. My advice is to do nothing until this is confirmed or denied, and to hold current positions. Do not sell in a panic; sell the reality of the market. Over the next few weeks a pattern should emerge in both indexes that will show us the path of least resistance. As Scott Pluschau says, "these patters have been repeating since the beginning of the stock market" (that's a paraphrase).
Ryan
