February 5, 2013

Feb 4, 2013 - follow-up


Remember: Watch for a correction in the next couple of weeks. When I said "now is the time" ... the frame was "the next couple of weeks", not "today" or even "tomorrow". My view is that this little rally today is a gift.

14009.79 needs to be beat on the Dow on a closing basis.
5875.56 needs to be beat on the Transportation average on a closing basis.

If the Dow surges past it's mark, the transportation average must follow suit. Ultimately, I am waiting for the Dow to beat it's all time high to confirm a similar move that was made in the Transportation index last month.