After a pretty violent rally in the morning, minor gains were held on the US indexes. Interestingly enough, the downward channel that is forming provided resistance today across the leading US indexes. Tomorrow will be extremely telling for both the future of this current short term down channel, and the up trend from November. The Dow Transportation average, who seems to be leading a bit, has to break 7200 to cancel this down trend. A break and hold below 7050 spells more retracement.
Thinking about posting some individual stock charts for a while soon. We'll see how it goes.
Dow Transportation Average Daily Chart
Dow Transportation Average Hourly Chart
Dow Industrial Average Daily Chart
S&P 500 Daily Chart
S&P 500 Hourly Chart
Russel 2000 Daily Chart
7200
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