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Sector Showcase: Transport Strength Reconfirms Dow Theory Uptrend

"Dow Theory" refers to a method for analyzing the stock market originally fleshed out by Charles Dow in a series of editorials all the way back in 1900. The theory has been further refined since then, but the basic tenets of Dow Theory form the foundation for much of the technical analysis conducted today.

In addition to valuable contributions on analyzing trends across multiple timeframes, volume analysis and early musings that preceded the Efficient Market Hypothesis by half a century, Dow Theory posits that both the Dow Jones Industrial Average and the lesser-followed Dow Jones Transportation Average must confirm one another. In other words, the fortunes of both the companies making products and the companies transporting...


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