1pm update - Transports are warning of trouble

Equities are in minor chop mode, with the sp' seeing minor chop in the 2060s. A daily/weekly close in the 2050s remains highly probable as some of the rats will likely sell ahead of the long weekend. Most notably. the Trans 'old leader' is looking very weak, -0.5%, and unable to hold above the 200dma.


sp'60min

Trans, daily

Summary

Suffice to say.. Trans remains an index to give some importance to... and it does not bode well for the broader market early next week.

Best guess.. the sp'2039 low will be taken out.. offering at least a test of the sp'500 200dma in the 2013/15 zone. Whether that holds.. very difficult to say.

Weekly/monthly charts though would be 'moderately' suggestive of a washout into mid April.
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Notable weakness: airlines, DAL/UAL, both lower by around -2%