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I’ve never been abashed by my love for the Trannies, nor my love for Charles Dow, who employed them to great effect in his famous theory. Some of us were dismayed to the see the Trannies pulling back while the rest of the market soared. My contention is the Trannies were just leading, and took their pause first.
Note this weekly Tranny chart which shows the sector sticking the landing on the 13-week EMA, and showing stochastic signs of a rebound:
Now check out the action on my favourite Tranny of them all… Ms. UPS!
And here’s the daily, which also says, “come to supper.”
I think we are about to take off again, overall market wise… but maybe not before our Transport lovelies have blazed the path. My best to you all.
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“Don’t get strung out by the way that I look,
Don’t judge a book by its cover”
I’m going to follow the lead of the great Tim Curry on this one and humbly disagree. I believe the trannies are now tracking more closely oil in a “1/x” fashion. Oil took a shot and they recovered. Oil now marching back overnight (perhaps) and if so would be interested to see if IYT can continue a move back up.
Regards and respect,
CD
I’m seeing many similar looking long setups in a broad swath of different leading industries. Very very few stocks are showing signs of weakness, therefore I believe that your last statement rings quite true. The train is leaving the station soon.
Will Ted run for the White House?
http://www.youtube.com/watch?v=T_QjEL0uUgo
Ted who?
Nugent?
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Tongue in cheek, but I’d vote for him.
Any but Barack O’Socialism.
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JG-
What’s the deal with AAU roaring ahead by 15% with no news?
There’s news, we just don’t know it yet. 😉
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