For the Dow Theory enthusiast, below is a daily Transport chart as of yesterday's close. Note that it closed higher yesterday and it was above its 7700 resistance level. That was a positive.

The negatives are that it was still in a technical down trend, and it is now exposed to the possibility of making a "head & shoulders" pattern. If such a pattern plays out, the Transports would move higher, not make a new high, and then fail to the downside.

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By Marty Chenard
http://www.stocktiming.com/

Please Note: We do not issue Buy or Sell timing recommendations on these Free daily update pages . I hope you understand, that in fairness, our Buy/Sell recommendations and advanced market Models are only available to our paid subscribers on a password required basis. Membership information

Marty Chenard is the Author and Teacher of two Seminar Courses on "Advanced Technical Analysis Investing", Mr. Chenard has been investing for over 30 years. In 2001 when the NASDAQ dropped 24.5%, his personal investment performance for the year was a gain of 57.428%. He is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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