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The combination of RUT and DTX has created a rising wedge. Price has broken down out of the wedge. These two indices are known to lead the broader market, so their topping in early June is interesting. Price topped in coordination with an RSI divergence before breaking down from the lower trendline of the wedge. This seems to have a good chance of going...
For much of the rally since march 2020 the Dow jones transport index has been a great leading indicator for weakness and strength for major markets
If we stick to that rationale it looks like we should expect some weakness across the SP500 and other major markets in the following weeks just in time for OPEX.
This is Bitcoin against DTX (but the same can be seen with SPY).
We broke the level 1 of the fib channel from the previous top of the 2017 bull run, and we're now over the top we had for MACD and RSI.
BTC may reach next fib level 1.272 as momentum is still strong, will it pull back then?
For those of you E -mini or index traders keep a close eye right here on this index - the Dow Jones Transportation Index a drop BELOW 1080 will spell real trouble of the entire market - as always do your own DD and trade safe. Remember "Early Is Wrong" .
DTX is the running average of the stock prices of twenty transportation corporations. A well-known gauge for future trend for the other US indices.
On Friday we were able to reserve a major signal giving rise to a new bear market. The upward momentum was now rejected twice.
UO indicator fell below 50 again, which can be regarded as a chance to go short on this...