11am update - Transports leading higher

On what might be the lowest trading volume of the year so far, the market is in melt mode. However, the transports are not so much melting higher, and are actually starting to ramp, +1.4% (a little earlier) in the 6300s. Only another 900pts to go....maybe.


Trans, weekly3, rainbow

Summary

I realise the above chart is a bold one, and a very sharp change of outlook from just a week ago. Yet, what else can be assessed from last Thur/Friday? Trend is UP, and Tranny is breaking new ground.
--

*Oil is lower, but certainly not at the levels that would make going long attractive..yet. Maybe tomorrow instead.