Wednesday, May 20, 2015

Transports and high-yield warning

$TRAN weekly:

Despite everything else I've said about bullishness and rah rah USA, this chart still shows $TRAN dropping below its weekly SMA(50). It is what it is.

Also, here's HYG weekly:

This week's candle suggests a rollover could be coming, and those aren't nice.

I guess the argument in the bulls' favour is that everyone already can see these stupid charts, and so everyone is already selling, and anyway the S&P hit a new alltime high so quit piddling yourself.

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