Thursday, October 25, 2007

Transportation Analysis for 10.25.2007

$TRAN - Dow Jones Transportation Average

Monthly chart shows index below backend resistance and testing uptrendline.

Weeky chart shows more clearly the backend resistance.

Daily chart shows consolidation the last three months. While the $INDU has made a new high, the $TRAN index has not. Currently it is below all key moving averages. Look for continued weakness.

iShares Down Jones Transportation Index ETF - IYT

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