Shipping a winner?

Transports pooped on the bears again last week following breakdowns in many components, most notably FedEx. Then the rails and UPS exploded higher and Monday the transports ETF (IYT) broke above resistance, albeit on low volume.

Then there’s Maude, er, the marine shipping index (SHX).Check this chart – a resistance break (actually a big base breakout) and only a day away from a golden cross of the 50-day expo average above the 200-day expo. Keep an eye out here if the market survives earnings season.