Dow Theory & Reality

(1) More bad news, which should be bullish. (2) Correction camp still more populated than bearish one. (3) P/Es relatively high given all the bearishness. (4) Another batch of crummy global economic indicators. (5) A recession in Japan despite Abenomics, or because of it? (6) Deflation revisits the Eurozone. (7) US exports dropping. (8) IMF warns about submerging economies. (9) Is Dow Theory’s grim economic forecast off track? (10) Industry-specific problems for railroads, airlines, truckers, and air freight. (11) Fundamental transportation indicators are mostly upbeat. (12) Margins boosted by lower fuel costs.