Charting My Interruption (CMI): “Dow Theory Quietly Getting Better”

Dow Theory, as first promulgated by Charles Dow, and later further articulated by Robert Rhea, rather sensibly suggests that if the market's interpretation of economic conditions is bullish, then trends in both Capital Goods (companies that make stuff) and Transports (companies that ship stuff) should be heading higher together. Of course, the opposite is true and I have been chronicling this relationship for the better part of a year, noting. . .

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