As seen, the DJT stayed overbought for a long time, in a "stepping stone" kind of move. On the other hand, if FDX knocks this down enough today, it could be a good sell-signal for other indexes.
I've conducted extensive research on various impactful events such as interest rate cuts, hikes, U.S. elections, major recessions, pandemics, and more, compiling the data into a comprehensive chart. While additional information like major conflicts and wars could be included, the chart already provides a clear representation of how these events have influenced...
DJ:DJT Transports are getting killed. August was a significant change in trend. A test of the light blue area is possible and could like up with early Nov with mid Dec as possible rebound if the time zones remain relevant.
The yellow line is inflation and the candles show the Dow Jones Transport index which represents the fortunes and costs of transportation companies. Transport is a major cost to getting products to market and so if DJT is going up it often then is reflected in the official inflation rate after a lag.
Right now DJT is in a downtrend since the middle of this year....
The wave structure can be counted as a wave 4 drop this would setup the last wave up from today as the setup for support is been seen today . and put call models are set and oil is setup to break from 93/95.5 back to under 84 /79 this would be supportive for the djt
MACRO MONDAY
Dow Transportation Average Index DJ:DJT
The Dow Jones Transportation Average (DJT) is a price-weighted average of 20 key transportation stocks traded in the United States.
The transportation sector acts as a leading indicator as it is further up the value chain ahead of the final products being sold by companies in Dow Jones Industrial Average...
In this video I've shown how extended the Dow Industrials as well as Dow Transports are. This type of overbought setup has consistently marked tops in the past so I am currently bearish and waiting for a correction to play out over the next 4 weeks.
I am expecting an approx. 10% drop in the markets before going long
Price is well above the neckline.
ES would be a break of the neckline which strong support until broken.
Price is at a resistance level today.
This pattern is not valid until the neckling is broken with a confirmed downtrend.
No recommendation.
If you wanted to know whether or not the market was on a bull run or not, all you had to do was look at the Dow Jones Transportation Average or even AMEX:RSP (which definitely does not fit the bull market, showing that overall the S&P 500 has barely broken 15% gain since October).
More important though is the transportation average breaking off from the rally...
That right shoulder for the H&S has now turned into a falling Wedge pattern.
Today transport has broken out, Price has gapped up pass all moving averages .
Usually DJT leads the Dow, let's see what happens
Price is above the neckline of this pattern and it is not valid until the neckline is broken.
The neckline is strong support until broken.
Targets for a break to downside are listed in orange. T1 listed in larger type than T2 and so on.
Sometimes T1 is all we get.
No recommendation
Amazon rarely delays deliveries, but I ordered the crystal ball over 30 years ago and it still hasn't arrived! 😢😂 ...So, I don't know what will really happen in the coming months, but what we can do right now is try to make some considerations.
The chart above represents the DJ Transportation Index , an excellent "thermometer" of US economy. If we look at a...
The chart posted is that of the DJT . As everyone is focused on the qqq and sp 500 and the flight to safety in tech DO NOT ASK ME WHY BTW . The markets are now in the HOPE stage. This is usually followed by Fear and then Despair . and then the last stage Denial . that is the BOTTOM
