The Dow Transportation Average (TRAN) has held up well in the face of the recession/depression I’ve be reading about. Price is above the 1:1 descending Gann angle which puts it in a strong position.
The SP500 Index (SPX) basically did nothing on high volume this week. Price ended where it started but moved between 1210 and 1275 over the course of the week. I think the price action in the SPX, TRAN, and RUT is very impressive in the face of a hurricane, financial, and economic problems. The hurricane is the only real problem as the others don’t appear to worry too many outside the message boards and the media gurus fighting for face time using the media to sell themselves…
Chart courtesy of Stockcharts.com
Tags: Standard and Poor's 500 (S&P500) · Transports · Volume2 Comments
2 responses so far ↓
Anyone not worried and prepared is irresponsible and are probably the ones that will be screaming the loudest. Whomever doesn’t get it by now needs state supervision.
S&P 1160-it’s all been done before. QQQQ 37 easily 34 at most,easy money by Oct 15.