NSC

Norfolk Southern, a good indicator of the manufacturing sector's health, has languished in purgatory for more than a year after breaking out in July above 2008's record high. The turgid price action since then reflects the anemic nature of our alleged economic recovery. From a Hidden Pivot perspective, the stock is in a duel that looks like a draw at this point. However, it would take a decline of just 6%, to 62.82, to turn the picture impulsively bearish on the weekly chart. Alternatively, nothing less than a 9.3% rise exceeding 73.07 will put bulls back on the offensive.