1pm update - naughty tranny

The transports has been trying to make a break above the recent triple spike high today. If the trans does rollover this afternoon, then the sp'500 will probably be somewhere <1410. The VIX similarly has a good chance at closing in the low 17s, opening up 18/19 on Monday.


Trans'60min

Trans'daily

Summary

Whilst the other indexes are moderately lower, I just think its useful to keep the old leader in mind.

If tranny does rollover, then we should see more significant weakness in the last few hours of this trading week.

Conversely, a trans close >5220 would be a problem, and suggest another chance of sp' breaking back into the 1430s. I don't think that's likely though, and we should see trans rollover into the close.
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UPDATE 1.15pm Tranny is rolling over.

MACD should show a confirmed fail/rollover by the close.

*meanwhile, the US news is reporting a rather dark-sided story to end the week