Price Deterioration From a Technical Standpoint
About this episode
Two support levels came into focus this past week. Transports have flashed a bear signal, but the pullback in industrials that we saw has been too swift. We need to see a failed rally and new lows before a legitimate bear can be called in the name of Dow theory, which can take weeks, if not months, and does not mean we're gonna see the market make new highs or fall deeper into correction territory.
The age-old technical system, which has historically outperformed, is not decidedly bearish yet. So, how do we play this? What should we be looking at right now in our portfolios?
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