1pm update - relentless transports

The price action in the Transportation index remains the most impressive aspect of the last few weeks. A massive breakout..and it just keeps on going. No sign of levelling..no sign of stopping. The metals are accelerating..after their morning reversal.


trans, daily

sp'daily5

Summary

I see a few people out there adding to shorts, but really, there is nothing that would suggest this nonsense it ending. Quite the contrary in fact.

With the trans/R2k,..and now the SP' above their mid-Sept' highs, a lot of the old 'doomer' charts have to get deleted.
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GLD, daily

Still within a bear flag..but clearly, the action today is very strong.