Monday, 28 October 2013

11am update - eyes on the transports

The old leader - Transports, continues to lead the way. The 7200/7300s look viable within the next few weeks, and that should offer the equity bears the first reasonable index short level. Trans 7200 should equate to sp'1790/1810.

Trans'weekly2, rainbow



*further to note, the daily upper bol' on the sp' is now offering the 1780s in the immediate term.

Perhaps a spike on FOMC Wednesday to 1775/85 zone, before a few percent retracement?

Broader trend remains clearly to the upside.