Transport Watch
A solid one-day gain on heavy volume for many indices will have given bulls something to cheer. There wasn't a whole lot of technical change, other than a few moving averages were breached (once again) to the upside in what has been a tough whipsaw period. The one index which caught my attention was the Transports - for the Dow theorists.
The DJ Transport Index closed just shy of declining resistance dating back to May of this year. There was a stochastic crossover, but the signal occurred above oversold levels. Trend strength is (very) weak - so the odds of a break are not very high, but if it was to happen then Friday would be a good day for it.

Keep one eye on it at least. Futures point to a flat open as of 6 am ET.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
The DJ Transport Index closed just shy of declining resistance dating back to May of this year. There was a stochastic crossover, but the signal occurred above oversold levels. Trend strength is (very) weak - so the odds of a break are not very high, but if it was to happen then Friday would be a good day for it.
Keep one eye on it at least. Futures point to a flat open as of 6 am ET.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website