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other half of the story, tried and true methods
* Transports turning back toward primary trend
* Industrials not following yet
* Volume seems weak to me, doesn't confirm anything. Implies weakness of trend?
Based on this I would conclude, despite the volume issue:
* DJI correction due in a matter of a week or two amounting to a total of ~4%, following the transports down
* DJT correction to continue ultimately ...
As is suggested by the heading even though we're seeing a rebound of DJI's rally one of it's confirming indicators is showing weakness. For the most part we use the Dow Jones Index as loose indicator of the overall economy, when it's performing well, on it's face, we discern that the economy is humming along well. As a confirmation for the thought process we use ...
It seems that the DJT wants to take us to some lower point and maybe finish its correction.
The QQQ lean higher and so the SPY.
When we look closely to the SPY and the DJT we can see that we lean higher and every weakness in the market is being bought. The key point is where? the answer by looking at the chart is the 40MA (weekly).
So i think that the miss ...
IWM and DJT are my two favorite Leading market indicators.
Indicator is the RSI. 2 Hour chart makes it a relatively significant development.
If price increases dramatically it will invalidate the divergence. But the longer it exists, the more likely it will take hold. (Kind of like my bad golfing habits)
pretty large bearish pennant.. Expect the market to follow the direction the Dow Jones transportation and also the Dow Jones industrial take.
Hello friends. I'm posting this for general reference. In my opinion this important index is right at the Green to Red boundary. Thank you for taking a look.
Leading the bounce
looks like the big bear flag is creating a mini bear flag !
Hello friends. While critics of the Dow Jones Industrial Average believe its composition results in an outdated view of the world, its ties to the economy, whether real or psychological, are still significant. Here's my modest perception of the chart. Thank you for taking a look.
Some say that that Dow Jones Transportation Average index can be used to predict the behaviour of the stock market. If it is true: the index seems to approach a support line. Perhaps this may indicate that the sell-off in the stock market is over soon? Well, we will see ...
- Rising wedge is bearish as seen in previous samples
- only lower trend line is taken the pattern is valid
- Bigger correction may come if DJT breakdown
- bull chance for one more push up, next top (SPX) probably in Late Nov/Dec
clear head and shoulders formed Gonna watch how this one plays out.
The Transportation index in now in wave 5/ of 5 of V and should ideally make it higher to the cluster resistance near 10,756.
It's clear that a five wave rally can be counted from the March 2009 low of 2,134 and a five wave rally can also be counted from the January 2016 low of 6,403. Once this five way rally is complete a decline towards at least 6,403 should ...
The DOWT can not get much attention sometimes, but it is an all time indicator of broader market action, and a leader. We have a triple wammy set up. HS top, major trend line support, and also right at the 200 day MA, and indicators on an hourly don;t look so dramatic, but back out to the daily, and woooo nellie, lots of room to run yet (downward) if that is what ...
Is the DOW transportation index showing that the economy is spluttering?
The bearish candle on July 27?
Currently, the price level is trading inside the kumo which suggests that it has not resume its bullish move.
The leading kumo suggests that it may be twisting soon and a confirmation that a change in trend may be underway.
Watch out for level 9143
Yellow light flashing