Watch the Transports and Nasdaq

06/07/2010 11:57 am EST


Thomas Aspray

, Professional Trader & Analyst

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The market internals tested key resistance but turned lower with Friday’s heavy selling. This would normally favor selling on Monday morning, but lately it has been tough to tell. I believe the key markets to watch are the Transports and the Nasdaq as a break below the February lows (3742 and 2100) would weaken the intermediate-term trend. The short-term A/D indicators are ready to form positive divergences, but are still declining.

Tom Aspray, professional trader and analyst, serves as video content editor for The views expressed here are his own.

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