By Jon S. Strebler
We see two big problems with the US stock market and its new all-time highs, which otherwise suggest a rip-roaring bull market that should be bought. They’re both related to the Dow Theory, obviously of great import to this eponymous newsletter. The glaring, most obvious issue is that despite a series of higher highs (a.k.a. “all clears!”) by the Dow Jones Industrial Average lately, the Transportation Average is far from matching the Industrials’ enthusiasm. So here we are again, Industrials making all kinds of new highs.