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D&D Note

D&D Note (3-15-2012) ~ Transports Rally and S&P closes above 1,400

As old as it is, DOW Theory still needs to be watched.

Today the transports finally rallied, and rallied hard.  OSG (Overseas Shipholding Group) rallies 16.13%, CSX rallies 8.36%.

Keep in mind the transports still have further to rally to reconnect with the industrials. So while we saw a rally today that doesn’t change the fact that transports and industrials are still not moving in tandem – meaning we still have a correction on our hands. However, the more the transports rally the less of a correction we should see.

Markets hit another “psychological level” with the S&P closing above 1,400 at 1,402.59. DOW closes highest since December 2007 at 13,252.76.

Apple hits $600.01 then turns back down.

Still a lot of headwinds out there so best to keep majority of your powder dry.

About ddinvestments

Trading Partner for D&D Investments

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