Friday, February 11, 2011

Transports Show Strength

The Dow Transportation Index is rebounding and currently challenging the previous high @ 5256.80. A break above that level would likely inject tremendous energy into the S&P 500 and other indexes.

There is a PHI price harmonic on the S&P 500 at 1360-1365
Dow Transports

S&P 500

The USDX looks strong and will likely test the 81-82 level before any significant resistant comes into play. See Jan 24th Update for Feb 3-4 projected low for the USDX

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