Wednesday, May 20, 2015
Transports and high-yield warning
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.