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Dangerous “kiss of resistance” for Transports! Spill over to S&P 500?

By kimblechartingsolutions
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Courtesy of Chris Kimble.

transportsdangerouskissatresistancejune24CLICK ON CHART TO ENLARGE

The chart looks the the DJ Transportation Index on a monthly basis.

Pretty simple friends…Support off the 2009 lows was broken last month. This month, the index rallied and kissed the underside of the line at (1) and looks to be pushing lower.

This could be a dangerous kiss of resistance for the Transports.

I shared with Premium Members this morning that the DAX index was kissing a resistance line as well and was pushing lower.

These potential kisses of resistance could be taking place at a dangerous price point!

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To become a member of Kimble Charting Solutions, click here.

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