Tuesday, December 9, 2008

Update on Transports

I just want to point out that the transports are down a very significant 4.5% right off the bat this morning. That will definitely work to put the brakes on any rally or will add weight to any declines – that is definitely NOT symmetrical with its ‘a’ wave, so I am already skeptical about my short term target.

Still not playing here, DOW is down about 110, the SPX is down 11 at 898.