DJ:DJT Dow Jones Transportation Average Index
We might be close to a potential topping formation in the Dow Jones Transportation Index. I view this Index as a leading indicator for equities. Connecting the trendline from April '09 to the bottom last year, and projecting this trendline on previous tops and extending it, we have come close to the top of it right now. A potential scenario i'm eyeballing is where the DJI (Dow Jones Industrial) makes a higher high, but the DJT fails to make a higher high ( a divergence, see this chart https://www.tradingview.com/x/r0jS0kY5/). There have been several in the past where we have seen market corrections shortly after.