Soon is the day .... watch in the next few weeks for divergence or confirmation between the Dow and Transportation averages. The all time high of the Transportation average is 6020.67, and the Dow must beat 14018.15
If neither beat the , it's business as usual. If one does and the other fails to confirm, expect a sharp sell-off ... kind of like the one we had today.
Intra-day, the Dow tried to make a new high of 14080, but that was handily rejected. All in all, this drop in the markets was not un-expected at all in these pages, although the amount the market rose certainly was. The result was cautious buying over the past several months .
