Today, the 'Trannies' are trading down. On a weekly chart, the pattern suggests a topping pattern to the index.
Support resides below in the 4800-4900 zone.
position in SPX
Tuesday, March 1, 2011
Trannies Update
Last month we discussed the importance of the Dow Jones Transportation Index ($TRAN) to what is known as 'Dow Theory.'
Today, the 'Trannies' are trading down. On a weekly chart, the pattern suggests a topping pattern to the index.
Support resides below in the 4800-4900 zone.
position in SPX
Today, the 'Trannies' are trading down. On a weekly chart, the pattern suggests a topping pattern to the index.
Support resides below in the 4800-4900 zone.
position in SPX
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