Tuesday, May 4, 2010

Dow Transports: Point and Figure BUY

Over the last few entries I have been presenting evidence that a significant high was in the process of being formed. This may be in fact the case but it is imprudent to ignore developments like that being shown below.
The Dow Transports continue to rally--producing a P and F BUY Signal on Monday's close. The price projection is quite interesting. If the Transports were to continue to rally ahead to the 6800 level, all other equity markets would surely participate in the market revelry.
The next week will be very important to discerning where the markets intend to flow.

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