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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.19-0.8%4:00 PM EST
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To: Terry Whitman who wrote (3747)1/13/1999 11:36:00 AM
From: Paul Shread  Read Replies (1) of 99985
 
FWIW, the fact that the Transports hit an intermediate high when the Dow hit a new high was considered a positive development under Dow Theory, even though it didn't change the primary trend from bearish to bullish. As long as the averages hold above their December lows, the action can be considered constructive (a pattern of higher highs and higher lows).

Hope all is well.

Paul
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