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What I’m Discovering Hidden Within 2Q Earnings Reports

98 views  2013-07-23 00:49   Tagstechnical  against  another  record 

Another day, another record for the S&P 500 and Dow Jones Industrial Average. The upward move has been a blessing for the past four weeks, and there will be more gains to come. The key is that you do not want to bet against Dow theory or against the trend. The Dow Jones Transportation Average, shown by the red candlesticks in the chart below, is also confirming the upward move in the Dow industrials, represented by the green line, based on my technical analysis.


Also Read:NYSE Holidays 2013


Yet, everything on the surface looks great. Of course, you can thank the Federal Reserve for much of that. The problem that I continue to see is the lack of any reasonable revenue growth so early on in the second-quarter earnings season.


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