Kimble Charting Solutions Blog

Crude Oil starting to cause some challenges to the Transports?

Posted by Chris Kimble on 04/08/2011 at 11:37 am; This entry is filed under Transportation.
Tags: S&P 500

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Transports ETF looks to be having some challenges with its 2007/08 highs and is breaking short-term support.  Crude Oil causing this challenge?  I have no idea, yet if long IYT I would want to harvest the position and see if it can break resistance!

With this situation in the S&P 500, I think the short-term break in IYT should get extra respect  (see 500 situation here)

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