Saturday 22 September 2012

A major reversal week for the tranny

Whilst the main indexes held their gains of recent weeks, the transports closed the week with a loss of almost 6%. Not only is the drop a sizable one, but we have a weekly close below the key 5000 level.

Trans, weekly

Trans, monthly, rainbow


The transports is now becoming the centre of attention for many market watchers out there. The 'old leader' has certainly seen some major down moves this week, and yet the other indexes seem completely able to just ignore it.  The question is now 'will the other indexes catch up?'.

I remain waiting to see how the tranny closes the month, I continue to seek a monthly close under the 5k level - with a second red candle, so, lets see if next week keeps the tranny under 5000.

More across the weekend... (probably)

Goodnight from London