Transports Close Above 3000
The transportation index ($TRAN) has finally posted a close above the 3000 level. As you can see in the above chart this level has been a pivotal area for the index and it now appears that we may see these stocks head higher. Notice the increase in volume today and yesterday on the breakout. It's looks like this index is headed for its 200 day moving average.
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2 comments:
Hi Kevin,
I know few about DJ Transportation, but I know many look at it as a leader, right? Is it reasonable to have the 200DMA as a target for the broad market (SPX) in the coming weeks/months? thx
Yes, I am looking for the SPX to test its 200 day moving average. Many of the asian markets have already moved above their 200 day avg so I expect our markets (NDX,SPX) to do the same.
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