Dow Theory Confirms Best Six Months Buy Signal & Bullish Call
Well it looks like the Dow Transports just issued a Dow Theory Buy signal by breaking out to a new high on today’s close. The Dow Theory Sell Signal we discussed on January 6 of this year was followed by a further decline of -7.4% on the Dow Jones Industrials.
The current post-election bullish rally looks like it’s got more legs and that further confirms our Best Six Months Seasonal MACD Buy Signal from October 24 and our recent call last week for further gains, based on our bullish scenario for Trump and his new team of policy makers to deliver stimulus, tax cuts, slow rising rates and healthy inflation.
But be nimble and use any usual mid-December weakness due to tax-loss selling or a profit taking January break, before jumping in. Most of our recent positions are up solidly, but we did miss a few that ran away and took a few losses on those that failed to break out with this rally.
Read this article in its original format at AlmanacTrader.com
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