Dow Transportation Index and NYAD Make New Highs

The market feels heavy.  The market feels like it’s running out of steam.  There is too much takeover chatter circulating in the market.  The market is ridiculously overbought.  There’s too much event-risk in the market.

I agree with all of the above sentiment.  Regardless of what it feels like, we have two important indicators confirming new highs.

I’ve written about the $TRAN before as an early warning system.  It now appears to be signaling new highs in the $SPX index.

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