3pm update - Transports wrecked

The equity market 'old leader' - Transports, can't stop unravelling.. now -1.6% @ 8342. Next support is not until the psy' level of 8K... which is another 4% lower. USD is set to hold sig' gains of 1.3% in the DXY 97.30s. Metals remain broadly weak, Gold -$16, with Silver -1.9%. Oil is -3.0%


Trans, daily

sp'daily5

Summary

The daily, weekly, and even monthly cycles are starting to look a real problem - for the Transports.
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The sp'500 looks set to lose the 50dma.. with 2080/75 by Thursday.. along with VIX 16/17s.

For me.. it is ALL about the USD... if it doesn't start to cool within days.... a real problem is ahead.
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notable weakness: GDX -3.0%.. as the precious metals look vulnerable into tomorrow.