Transports - which way?

The Transportation Index remains the one to watch this summer. The 'Tranny' almost had a second consecutive +1% day. Lets take a quick look, especially at the bigger picture.


Transports, daily, rainbow (Elder Impulse -style)

Transports, monthly, bullish

Transports, monthly, bearish/doomster outlook

Summary

Key thresholds...
March high: 5390     
Recent trading range low: March: 5029

As I've been noting for some weeks now, the direction in which the transports breaks from its current 5 month range, will likely be a key indicator of where the broader market is headed. Keep on watching that Tranny!