A test of the transportation index secondary trend is intresting to me as oil actually fell this week. This is definitely a chart to watch for indcations of the overall market.
This sure looks like a HUGE Inverse H&S pattern indicating OIl will stay low or may even fall more boosting transy profits.
Or would a failure to penetrate 4142 indicate oil may be moving higher driving the Transportation stocks lower?
Either way set an alert at 4100 as a reminder to check the transportation stocks like BA, CAL, DRYS, EXM, GMR, LMT, RIG
For the Web's best interactive charts, please visit http://www.Prophet.Net
No comments:
Post a Comment