The market is at a critical juncture now as it pushes against resistance on many fronts. In particular, watch the DJ Transportation Index. If what the pundits are saying, that we will see the economy bottom out the second half of this year, we should see the “Trannies” breakout, as a sign of future economic activity picking up.
Right now, the transportation index is trying to work through bearish resistance.
Happy Friday.
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