Union Pacific ( UNP) ($157.95 vs. $153.72 on May 8) set its multi-year high at $161.00 on May 22, two days after the transports peaked. Shortly after my May 8 post this stock was upgraded to hold from sell. The weekly chart remains positive but overbought with the five-week MMA at $153.28. My semiannual value level is $143.14 with a monthly pivot at $156.79 and weekly risky level at $164.10.

United Parcel Service ( UPS) ($87.43 vs. $88.66 on May 8) set its multi-year high at 89.96 on May 8 versus the transports peak on May 20. The weekly chart stays negative given a close this week below the five-week MMA at $86.05. My semiannual value level is $80.21 with a monthly risky level at $89.67.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.

If you liked this article you might like

Jim Cramer -- Transports Are the Ugliest Part of the Market Right Now

Knight Transportation to Accelerate Buying as Trucking Hits Brakes

As the Trucking Industry Slows, Knight Likely to Accelerate

American Airlines (AAL) Stock Prepared for Takeoff

Jim Cramer's 'Mad Money' Recap: 5 Groups You Once Loved but Now Hate