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.