Transports Reaching Support
10/27/2009 9:46 am EST
The Dow Transports have gotten the press attention recently as they are down over 7% from the recent highs. The daily chart shows that there is converging support in the 3700-3750 area, which includes the daily uptrend from the March lows. The major 38% support is at 3340 with the 200-day MA at 3258.