The transports currently sitting on the 50-day average…almost to the penny. In this teflon market, very important that they hold. Rails and airlines continue to act suspect…with of course, higher oil prices to blame. Also seeing some underneath-the-surface distribution in semiconductor equipment names. Lastly, housing stocks finally coming in and headed to the 50 day average where potentially buyable on the first pullback to the 50.

Chart courtesy of StockCharts.com 

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