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chromius24

Dow Transports Ready for a Bounce

Long
Dow Jones Transportation Average Index (DJ:DJT)  
chromius24 Updated   
DJ:DJT   Dow Jones Transportation Average Index
Chart Patterns Technical Indicators
1
0
chartpattern indicator
$DJT is down 22% from its peak and is coming into long term support - 200 week MA and the top of a previous rally at about 9000. Also the RSI has shown support at these levels in past corrections as shown. The speed and severity of the correction while the economy is still in good shape, though cooling off a little, suggests a nice bounce is coming.
Comment:
More than 10% bounce from the low around Christmas!
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