The Transportation Index continued to fall today, and you'll see in the chart below, it's inching closer to support, but this is not a sign of confidence IMO that green shoots are growing much. IWM also closed below trendline support from the March low, if only a little, so the M pattern there continues to be a factor. In after-hours, Visa is not looking too well, and neither is the education sector, so you might find some good trades for tomorrow and beyond. Good trading today, and good machine-gun style calls out to each other while trading. Who could ask for more?? I don't know about the rest of you, but my own trading has substantially found its way back to where it should be lately, and I have to attribute that to this group of fine traders, so thank you all! ~Keirsten
Zig Zag's Fractal Chart on $TRANS
Notable earnings tomorrow include: pre-market: BWA, COP, HES, WLP. COP could give us a hint of things to come with XOM reporting Thursday AM before the bell. Post-market includes: AKAM, AVB, CBG, CERN, ESRX, FLS, ORLY. Again, the REITS will come into play for those trading IYR/SRS.
Economic Calendar:
Pre-market: Durable Goods, 10:00- New Home Sales, 10:30- Petroleum Status
Also be aware that on Thursday before the bell at 8:30 AM, they'll announce both GDP and Jobless Claims. Good trading!
DDT here 8:45PM EDT
Just a few charts with lame notes on today’s levels/logic/action
