So you can see the powerful levels at which we are currently, I have produced charts with higher resolution. Click on the chart for detail view.
Below is the Transportation index in Green with the Russell 2000 in Orange. For most of the rally the Transports have lead the R2k. Additionally, the transports failted to confirm lows. Now the transports are failing to confirm highs on the Russell and have shown a stron propensity towards weakness. The cycles show a complete pattern and the Transpotation indexs show a head and shoulders pattern with a neckline at 5,000. Ominous...
NAHB: "Soft Spring Selling Season Takes a Toll on Builder Confidence" in May
-
The National Association of Home Builders (NAHB) reported the housing
market index (HMI) was at 34, down from 40 last month. Any number below 50
indicates ...
2 hours ago