New Bull Market Highs for Consumer Discretionary and Dow Transports
Friday, July 1, 2011 at 05:44PM During the day on Friday, we noted that the Consumer Discretionary sector was getting very close to a new bull market high. As shown in the first chart below, the sector did indeed make it to a new high by the end of the day. Another index that made a new bull market closing high on Friday was the Dow Jones Transportation Index. A week ago, investors were in despair over the struggling economy and down stock market. A week later, two of the most cyclical sectors of the economy are back to new highs. Pretty incredible.
Each Friday, members of Bespoke Premium receive our Week in Review newsletter. This popular report provides Bespoke's current market thoughts through commentary and the unique graphs and charts that Premium members have come to love. If you're looking to get a better grasp of the market or get up to speed for the week ahead, become a Bespoke Premium or Premium Plus member today and download our Week in Review newsletter.
Reader Comments (1)
Looks like it is time to get bullish again! We may be at new highs before too long. Consumer Discretionary and Transports tend to point the way the market will go.
time123
admin at http://invetrics.com