Courtesy of Chris Kimble.
Since the election, it is easy to find talk about the prospect of future growth and spending, to spur on the economy going forward. Below looks at a couple of sectors that could go a long way in helping us determine if growth or lack of is about to take place.
Below looks at a chart of Basic Materials ETF (IYM)-
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Below looks at the Dow Jones Transports Index over the past 30-years-
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Basic Materials are kissing the underside of 2007 and 2011 highs at (1) in the top chart and Transports are testing a pattern that looks similar to the 1999 and 2007 highs at (2).
Joe Friday Just The Facts; Breakouts by these two would send very positive risk on messages. The underside of resistance is NOT where the risk on trade would want to see any selling pressure getting started!
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