On the weekly chart of DOW Transportations
index we can see that market has been trading bullish
since the star of 2012. It has already made four waves up, with blue wave 4 in final stages. On the Daily chart
we see that price is trading in an ending diagonal
in blue wave (c) of red wave y. After the correction is completed, price may price may turn higher.
When market will reach a new high with blue wave 5 we will be looking for a larger corrective retracement, probably later this year.