TRAN Transportation Index Daily Chart

On Thurssday, the trannies popped up above the October highs (neon green line). The Dow Industrials popped above their October highs yesterday confirming the tranies so a Dow Theory buy signal is warranted.  Considering the low volume holiday markets, however, a few days of trading will be required to see if it has staying power. Interestingly, a Dow Theory buy signal would jive with Keystone's secular signals should the SPX 12-month MA Cross and/or NYA 40-week MA Cross cooperate and flip to a secular bull (both signals show that markets are currently in a Secular Bear). 

Note that price is hovering around the confluence formed by the 62% Fibonacci retracement, 200-week MA and June support at 4990-5060. The neon green lines for the indicators show negative divergence across the board so a spank down would be expected which would maintain that 5060-ish as a ceiling. Projection is sideways to sideways down bias moving forward. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.