Analysis on the railroad sector & several major railroad stocks that look to offer objective trade entries followed by a brief overview of IYT (transportation sector ETF) as well as the trucking sector and $XAL (airline index).
These are the daily charts of the ten largest components of the Russell 2000 Index (posted in descending order by weighting). Rarely have I even seen such screamingly bearish patterns on nearly every top component in a major, diversified index such as this. Of course, these stocks are also extremely overbought on the daily, weekly and even monthly time frames. Personally, I'm expecting much more than the run-of-the-mill 3-5% pullback that most pundits on the street are calling for. As taking screen captures and annotating 10 chart takes a considerable amount of time, my notes on the charts are minimal but [...]