Transports Drop Sharply

06/23/2009 10:41 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart
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The Dow transports lost 4.7% Monday, about twice the decline of the industrials. The daily chart shows transports are not far above the stronger daily chart support in the 2900-3000 area. If this level is broken, the next support is at 2750. The rally stalled at the 200-day MA and the 38% resistance level.

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