11am update - Transports warning of problems?

Whilst the broader market is seeing continued minor chop, there is some notable weakness in the Transports, -1.2%. A break <7000 would be a initial warning of broader market weakness. Precious metals are trying to build gains, Gold +$4


Trans, daily

GLD, daily

Summary

To be clear, the drop in the trans is interesting, but I can't take it seriously.

We have 2 significant QE this week, the price action is NOT at all bearish in the broader market.
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stay tuned!


11.34am... same old nonsense..right?  Slow motion melt..after a brief tease to the bears at the open.

..only another 4/5 weeks to go...I'm guessing.