If Dow Jones Industrial Average goes up while the (Dow Jones Transportation Average goes down, it could be a leading indicator that the DJI is making a top.
The reversal observed previously appears to be washed out...
JNK broke down previously as expected, and exceeded target. No rebound as previously expected, but instead a further push downwards followed. MACD in bear territory.
IWM , DJT and VALUG all swent further down after breaking the support that bounced off earlier. MACD crossed and deep in bear territory....
Dow Theory Sell Signal is Active.
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The Primary Global Index used for Confirmation:
The Baltic Dry Index has collapsed from 5829 to 1764.
The Baltic Dry Index is reported daily by the Baltic Exchange
in London. The index provides a benchmark for the price of
moving the major raw materials by sea. The...
Leading Indicator panel update:
JNK - the topping pattern continues to play out for JNK, looking for a lower low, after the last lower high.
IWM - The Russell 2000 ETF failed a breakout late last year, and is about to break down of a support given the bearish weekly candle.
DJ Trans - a system Sell signal, and likely downside off the Dark Cloud Cover...
Retracement clearly over, and now 5 out of 7 of my panel of leading indicators are suggesting that more crazy upside on the S&P500 is on the way. Only the High Yield Bonds and the Russell2000 have not taken off - yet.
On the contrary, we can visibly tell that the S&P500 is being stretched. It obviously is.
Nonetheless, expecting further gravity defying up...
Good Game... the DJ Transportation Index has broken down the up trend line. Sell signal on the ATIS system should be out soon. And MACD is crossing down into the bear territory. The BMT had already given way in early October.
According to the Dow Theory, the DJ Transports is a leading indicator and well, expect the rest of the market indices to follow.
The two year cycle low in djt came in right on time in march at ax 1.618 and 50% and .382 at march low we are now looking for the BULL MARKET TO END AND ENTER A 18 TO 22 MONTH BEAR MARKET IN DJT AS WE REACH THE UPSIDE TARGET 12175 TO 12250 WATCH FOR A MAJOR SHIFT WITHIN 10 TO 13 DAYS AS THE FINAL BLOWOFF IS ENDING 2021 THE DJT ON AVG WILL BE...
I believe we are on the tipping point towards this downside. We couldn’t break out of the resistance or previous highs. This will impact the SPX and DOW
