We’ve been watching the transportation index very closely and we think it looks pretty impressive. $TRAN
Notice how we have worked off much of the overbought level the past few months as the transports went sideways in its large flat top formation on the daily. The MACD looks good now too. There is not much to dislike about how this index looks. Transports could be issuing in a Santa Claus rally in the broader market. Afterall, Santa needs transportation right?
