Can This Really Happen? - Part II

On March 13th I posted my first part of "Can This Really Happen?", where I projected what Dow Jones Industrials can do over the long term. Today, from the department of outlandish predictions, I am going out on the limb to show my projected path for Dow Jones Transports.

Just like in my Dow Jones Industrials prediction, I compare the Transports' weekly chart to the one from the previous bull market (2003 - 2007). This time I do not want to go too far out in time, and will simply show where the price may possibly be this summer. If things progress in the same manner (charts look very similar at this point), Dow Jones Transportation Average may reach a target of 7368 around the last week of July. It is really mind-boggling to think that DJT may have a 19% advance from here (into what is usually a seasonally weaker time of the year), as it is already 28% above the November low.

click on chart to enlarge