14 October 2009 – Transports surge

ASX Commentary

14 October 2009 – Transports surge

Thu, Oct 15, 2009

I guess the important piece of news overnight was the convergence again of the Dow Jones Industrials and the Transports. We’ve been noting recently that the gap between the two was becoming an issue, albeit yet to confirm a bearish stance. Last night the Industrials rose 1.47% but the Transports rose a whopping 3.92% to really make up for some lost ground. This is a great sign because last nights rise takes the Transports above the all important September highs and confirms the recent strength of the Industrials.

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This post was written by:

Nick Radge - who has written 899 posts on The Chartist.

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