Just a quick note before I head out to dinner with family….as I said last week, continue to watch the DJ Transports, as they are part of the essential element for this rally to continue. No the rally isn’t dying, but a break of the 15 day EMA on the “Trannies”could be your early warning that it might suffer its next malady.
Yesterday, it briefly flirted with an intraday break of its 15 day EMA. Today saw an intraday break below 2,914 before closing at 3,020. The 15 day EMA is now at 2,927. If we get a close below that tomorrow I will probably trade out of more of my stock positions.
Have a good night.
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