Industrials Or Transports -- Who's Leading?

The seasonal chart I discussed in June suggested that July could be a better month for stocks than June when the Dow Jones Industrial Average was down 2.9%. The powerful rally in July caught many by surprise as it was not the summer doldrums many were expecting. The Dow Industrials were up 3.9% in July while the Dow Transports did even better as they were up 4.6%. The evidence at the end of the month and the typical seasonal pattern suggested that stocks were unlikely to sizzle in August. With j...