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.