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I mentioned earlier today that the airlines were squeezing higher, as the transportation stocks as a whole showed strength in absolute terms as well as relative to the rest of the market. The shippers and water transportation stocks have been obliterated over the past twenty months or so, but now we are starting to see some setups emerge there.

Keep in mind that the shippers have been left for dead, with quite a few of them losing 80% or more of their value after the initial post-2008 crash rally. So, psychologically, these things could easily double or triple before many would actually take them seriously again. All of this depends on how the broad market acts in the coming days and weeks, but keep these on watch.

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