1pm update - Transports is a serious problem

Whilst the headline indexes (sp'500, Dow, Nasdaq), are holding broadly within their upward trends from the Aug/Sept lows, there is a real problem within the 'old leader' - Transports, currently -2.6% in the 7600s. The break of trend is clear... and this is despite Oil prices at levels not seen since Feb'2009 !


Trans, daily

Trans, monthly'2

Summary

A break below the Aug' low of 7452 would be a major problem to those seeking broader upside into.. and across next year.

For now.. its something to keep in mind.. whilst most others get overly hysterical about relatively moderate swings in the sp'2090/40 zone.
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stay tuned!