The S&P 500 led the way today for a change outperforming the Nasdaq with a 7% gain further distancing itself form its 50 day SMA. A collision with the round 1700 number lies a percent away. The Nasdaq successfully took out its round 3700 number yesterday. The SDS we like to watch is now down 7 of the past 8 days and back below its 50 day SMA. Each time it has tried to make a stand this year there it has been rebuffed. Some important groups are trying to regain their former glory. The transports fall into this category. The rails themselves are slowly repairing the damage they have done to their charts, but some other names in the trucking arena and rail component sectors are carrying the load, pun intended. Names like ODFL TRN SWFT WAB are all names to keep a close eye on. The Dow made some interesting inclusions today with NKE GS V. Think they picked the wrong credit card company as at least from a technicians perspective MA looks better. Of course that would be difficult given the price weighted structure the index currently has. A 650 handle stock would cause some crazy gyrations for sure. RIP AA.

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