The DJTA undercut psychological support at 10,000 last week and settled above that level, signalling a potential buying opportunity.
These stocks could sell off if President Trump follows through on his threat to terminate the trade agreement.
Trucker stocks are probing monthly highs after an initial sell-the-news reaction to J.B. Hunt's weak second quarter results.
J.B. Hunt Transport bounced off a 5-month low after a mixed earnings report but is unlikely to underpin the DJ Transportation Average recovery effort.
November trucker breakouts stalled in December, with distribution since that time telling us that newly minted shareholders are abandoning positions.
J.B. Hunt, which fell 3 cents shy of Zacks’ earnings estimate, reported a fourth-quarter profit of $117.9 million.
Truckers have led a D.J. Transportation Average rally that's now dependent on the new president's willingness to renegotiate or terminate NAFTA.