Monday, February 24, 2014

Two weak US charts look less weak this morning

Two interesting charts:

Regional banking seems to want to take another run at the SMA(50) this week. I guess the last 3 days of last week's heavy volume might have just been some idiot hedge fund getting out of their banking position?

Transports also looked horribly weak but have now bust out from their month-long range. I guess now they can go ahead and confirm the broader market advance.

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