Karpel’s Corner: $DJX Chugging to New Highs; $CSX, $FDX are Stocks to Watch

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

The leadership in the Transports ($IYT) lead the Dow Jones to new highs. Two names that are high on the short-term bullish conviction list here at Tradespoon are $CSX and $FDX, two large players on the rails and roads.  They both have a short-term Tradespoon Bulls score of 10.

But Utilities ($XLE) were a sector in the “Down” Jones, a by-product of interest rates popping on the long end of the curve. This has tested the long end of the curve ($TLT) since prices in the bonds continue to pull back as the yield goes up.

At this stage, the market is signaling that the bulls are still in control, and unless either the two-year yield surpassed the 10-year I see no red flags at this stage for stocks.

See you next time at the Corner!