Transports Trounced

By | October 27, 2015

The transports are getting trounced today despite the pullback in oil prices. They have been making series of higher lows since their August low under horizontal resistance in the 8300 area. Over the last three weeks there was further consolidation in a narrow channel just above the 50 day moving average, in what looked like preparation for a break above the resistance line.

99948.TRANchart

Leave a Reply