Dow Hits Record Highs But Lacks Confirmation from Dow Theory Indicators
• Record highs in Dow Industrial average not confirmed by 100+ year old Dow Theory indicator
• Dow Theory - bull market confirmed when Dow Industrial and Transportation averages reach new highs together
• Transportation index still 9% below record high, divergence a tactical risk for stocks in 2024
• Weakness in transportation stocks like FedEx and UPS a warning sign for broader economy and market
• For Dow Theory confirmation, Transportation Average would need 10% surge to close at record highs