UPS looking DOWNS
Updated
Nice head and Shoulders on the United Parcel Service
#UPS and FEDEX are the new dow transport indicator.
An underlying determinant of how the consumer is faring
Since the US is a consumer economy and Online shopping is the majority of retail
if we see new highs on the Indicies, and the home delivery carriers continue to deteriorate
it would give your non confirmation Top
Similar to Dow theory of new High's in the Industrials , but the transports lagging and indeed falling.
#UPS and FEDEX are the new dow transport indicator.
An underlying determinant of how the consumer is faring
Since the US is a consumer economy and Online shopping is the majority of retail
if we see new highs on the Indicies, and the home delivery carriers continue to deteriorate
it would give your non confirmation Top
Similar to Dow theory of new High's in the Industrials , but the transports lagging and indeed falling.
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Smashed the neckline Big gap in price activity $125-$135
expect it to be filled
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UPS is falling apart!Comment
Looks like a #HVF
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Still monitoring UPS as our canary in the coal mine on the US economy as a proxy indicator on the consumer.
Comment
cleaned up the HVF for greater accuracy ....
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