FN: The DOW Jones Transportation (TRAN) index is stuck at resistance. The supply from Oct to Dec of 2008 is pretty large. The declining 200 day EMA (green line) is further weight and the previous high of 3458 is yet another hurdle.
TRAN was down on Friday when the broader markets "broke out higher" intraday.
TRAN didn't even bother to try. This kind of divergence should not be ignored.
Monday, June 15, 2009
Transports Diverge
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http://en.wikipedia.org/wiki/Pirates_versus_Ninjas
Pirates vs. Ninjas
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