Transportation 2023-09-20: Unchanged at WEAK strength rating (6th strongest of 9 levels), previous move was DOWN

TABLE OF CONTENTS

1. INDUSTRY OVERVIEW
   1A. Performance
   1B. Background
2. SUB-INDUSTRIES AND STOCKS DETAIL
   2A. Sub-Industries Overview
   2B. Sub-Industries 10-Week Strengthening Analysis
   2C. Stocks 1 Week Strongest and Weakest
3. STRENGTH BY LOOKBACK PERIOD (with Best/Worst stocks)
   3A. Lookback 6 Months
   3B. Lookback 4 weeks
   3C. Lookback 1 Week

1. INDUSTRY OVERVIEW

1A. Performance

Past 10 Weeks Strengthening/Weakening week-by-week, per the following chart:

Mixed/STRENGTHENING 1 Week vs. Mid- and Longer-Term // 1 week positive/negative stocks ratio is HIGHER than 4 weeks but LOWER than 6 Months, per the following chart:

Comments:
Stocks rated Weakest are currently 28% of total stocks.

1B. Background

Largest of 7 sub-industries (83 stocks, average 12):

• Shipping (34 stocks)
• Trucking (15 stocks)
• Air Delivery & Freight Service (11 stocks)
• Regional Airlines (9 stocks)

Top 10 by Market Capitalization:
UPS/United Parcel Service Inc, UNP/Union Pacific Corp, CNI/Canadian Natl Railway, CP/Canadian Pacific Railway Ltd, FDX/Fedex Corp, CSX/Csx Corp, ODFL/Old Dominion Freight Lines Inc, NSC/Norfolk Southern Corp, DAL/Delta Air Lines Inc, WAB/Wabtec Corporation

2. SUB-INDUSTRIES AND STOCKS DETAIL

2A. Sub-Industries Overview

Strengthened: 2/7 sub-industries
Weakened: 0/7 sub-industries

STRONGEST at Very Strong rating/2nd strongest of 9 levels:

• Air Services (2 stocks)

WEAKEST at Weaker rating/7th strongest of 9 levels:

• Major Airlines (4 stocks)
• Regional Airlines (9 stocks)

2B. Sub-Industries 10-Week Strengthening Analysis

What: recent week-by-week strength changes for the industry and each underlying sub-industry
Why: objective measurement of strengthening and weakening enabling comparison within and across industries and sub-industries

2C. Stocks 1 Week Strongest and Weakest

What: stocks currently rated Strongest/Weakest (highest/lowest of 9 strength ratings)
Why: most interesting stocks for available capital because

• the Strongest have the least amount of overhead supply to dampen breakouts while
• the Weakest may be prone to volatility, subject to big pops from bottom-fishing and short-covering BUT ALSO to bigger and faster falls.

(Not guaranteed and not a recommendation - weak stocks in weakening sub-industries may be better shorts than high-flyers.)

3. STRENGTH BY LOOKBACK PERIOD (with Best/Worst stocks)

3A. Lookback 6 Months

3B. Lookback 4 weeks

3C. Lookback 1 Week