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Friday, February 17, 2012

E-minis


As a fan of DOW theory, we have 3 significant non-confirmations between the Industrials and the Transports at this moment.

The first is the 2011 All-Time Transport high has not been matched but the Industrials.
The second is the 2012 Industrial high above its 2011 high has not been matched by the Transports.
The third is a more local one. Today's Industrial high has not yet been confirmed by the Tranposrts.

Although imperfect (as Transport waves tend to be), we may have a leading expanding diagonal pattern off the top.

Euro looks wedgy


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