Chart of the Day - Monday, January 12, 2026

🏆 Today's Chart of the Day was shared by Grant Hawkridge (@granthawkridge).
 

• Dow Theory was confirmed for the first time in over a year, as Transports made new all-time highs following the Dow Industrials. This setup has historically coincided with forward one-year S&P 500 returns north of +12%.
   
• Grant notes that the modern-day interpretation of Dow Theory is also flashing confirmation, as Semiconductors continue to register record highs alongside the S&P 500.
   
• While original Dow Theory may not carry the same weight it once did, alignment between economically sensitive groups points to a healthy trend and a market with solid underlying support.

The Takeaway: Classic and modern Dow Theory signals are in sync, suggesting the uptrend is well supported beneath the surface.