Tag Archives: transports

Transports Nearing Target

Another leader index is nearing its upside target.  The question is, will these things blow right through?  The US has the duel fuel of a relatively okay economy and a strong currency, which theoretically gives the inflators more ammo.  But how long do they keep inflating in the face of a soaring stock market before the whole thing begins to look silly to even the most casual observers?

tran

TRAN daily

Do You Know Rut I Find Distrubing?

I find it disturbing that the $RUT, which has been a negatively divergent leader broke the nice neckline I laid out for it in NFTRH 235.  That is what I find disturbing.

rut

Russell 2000 daily, from NFTRH 235

I find it less disturbing that the Dow bounced because that is exactly what we noted it looked like it was poised to do.

dow

Dow daily, from NFTRH 235

Meanwhile, the Tranny is holding at some moving averages and under the dome we placed over its head this weekend.

tran

TRAN daily chart, from NFTRH 235

The leaders had better get about the business of downside leadership fairly quickly or these damn bulls are going to… well, you know.