Transports, Small Caps Hit New Highs

For a month or so now, the bears have been arguing that the Dow Transports as well as smallcap stocks have been underperforming and therefore not confirming the new highs being made in the Dow Jones Industrial Average (DJIA) and the S&P 500.  Today, however, both the Dow Transportation Index and the Russell 2,000 (smallcaps) are back to their bull market highs.  The fact that these two sectors of the market have now cleared this hurdle should make the bulls happy.