From the AP:
Shipping giant UPS is optimistic about the economic recovery it is seeing in countries where it does business around the world.
The company made the comments as it formally reported Tuesday a nearly 33 percent rise in first-quarter profit to $533 million, or 53 cents a share, compared to a profit of $401 million, or 40 cents a share, a year earlier.
UPS, based in Atlanta, pre-released earnings results on April 14.
That story got me thinking about the transport average:
There is a clear uptrend in place (a) and prices have broken through important resistance (b). The EMA picture is bullish (the shorter EMAs are above the longer EMAs, all the EMAs are moving higher and prices are above all the EMAs). However, momentum is near a topping out point (d) but there is plenty of money flowing into the average (e).