The Market Perspective: Transports Move Ahead

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June 18, 2012

Transports Move Ahead

Monday June 18, 2012

On June 10 we suggested Better Hurry the Bargains Won't Last Much Longer. Today the Transports confirmed that prediction. Interestingly last week Richard Russell issued a warning that we are now in a new Primary Bear Market. I don't think so Richard, though you have been publishing a lot longer than myself.

Dow Transports

The move down was designed to run the sell stops of all the non believers who like Bill Gross think this is not the real thing. Now the Transports have noved up in convincing fashion through both MAs, as well as the MACD turning up.

We bought more FCG, XME, and XES today.

Posted at 06:09 PM | Permalink

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The Market Perspective

Market Commentary by Dennis Elam dennislelam@gmail.com