Indexes up against resistance, getting very defensive


The market is at a critical juncture with many indexes right up against their declining 30 week averages (red line). Check out this weekly chart of the NYSE index. The fact that T2108 was above 80 also makes me think we may have hit a wall.

Screen Shot 2016-03-08 at 10.24.04 PMAnd here is the important Dow transportation average.

Screen Shot 2016-03-08 at 10.28.09 PMI am becoming very defensive again until this period is resolved.

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