Transports Stalling

06/15/2009 11:50 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart
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The Dow Transports have been one of the weaker averages over the past week as the chart shows that the 38% retracement and declining 200-day MA have been reached but not exceeded. The first good support is in the 2980-3100 area. A close above 3460 is needed to reassert the uptrend.

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