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Canadian Pacific operates a transcontinental railway in Canada and in the Northeast and Midwest U.S. It recently acquired Kansas City Southern. The combined company transports products ranging from bulk commodities to merchandise freight across a 20,000-mile rail network and has nearly 20,000 employees.

After the much-higher close on Monday, the S&P 500 (SPX) was higher by 4.6% in seven days and between 1.1% and 2.1% on three of those days. The index has broken its steep downtrend off the February 19 high and has retraced a bit more than 38.2% of the decline. On Monday, the index closed right at a piece of chart resistance that begins at 5,773 (the intraday low on January 13). There is a major cluster of resistance for the SPX between 5,750 and 5,825. It includes the slightly rising 200-day average and the declining 21-day exponential, both of which have been recaptured; a 38% and 50% retracement of the decline; and the closing and intraday breakdown levels from January 12 and 13. Above that, the falling 21-week exponential moving average (EMA) is at 5,854 and a 61.8% retracement as well as the declining 50-day average are up near 5,900. Preliminary volume was light on the SPY (SPDR S&P 500 ETF Trust) and the QQQ, so Monday was not one of the accumulation days we need. The SPX is close to a five-day/13-day EMA bullish crossover, which would reverse the bearish cross on February 21 when the index was still over 6,000. The QQQ is also close to getting a five-day/13-day EMA bull cross. So while more is needed, the market is off to a good recovery start.

WABTEC CORP has an Investment Rating of HOLD; a target price of $199.000000; an Industry Subrating of Medium; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of Medium.

GREENBRIER COMPANIES INC has an Investment Rating of HOLD; a target price of $56.000000; an Industry Subrating of Medium; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of Medium.