Wednesday, August 5, 2015

transports and Q


I had a bit of a feeling there that the July double bottom in transports, if it held, could be the set up for a summer rally is US equities generally. But it's been so frustrating waiting.

But this morning's uptick looks good, as well as this:

Because while transports printed a double bottom, Q has printed a series of higher highs.

However because of the early July explosion in Q, I'm long SPY instead.

Well, at least sentiment stinks, and the fundamentals don't support it.

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