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August 21, 2008

The Transporters

Let's have a gander at where the transports stand at the moment:

stock chart

This all adds up to reasonable expectations for near-term strength and perhaps provides another clue as to the near-term direction of the market in general. I'll be watching the transports closely tomorrow because if they fail to hold 4900 under these conditions, it may be a clue to bigger weakness beneath the surface.

 

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