Next stop is $110. Bring up the moving averages (50/100/200/365) on the 1/2/5 year charts and you will see where this train is headed. The car load data and the lower demand for frac sand and pipe in the country will be the justification for the finished down leg. Relative insulation from currency issues, however, will make this attractive again as a defensive play for parking cash.
I don't think the next quarter earnings will be terrible especially since this winter was not quite as bad as last year's disruptions, which should help make the comps look better. Strong dollar should help boost imports somewhat, but with port congestion/debacle, I think the benefit to UNP will be muted. Cross-border from Mexico would be the least impacted area.