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Thread: Dow Transports

  1. #25

    Default Re: Dow Transports

    Huge 4-day rally. Huge month.

    Delta and Southwest.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  3. #26

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    Default Re: Dow Transports

    Still nowhere close a new high in the transports. How can things be so great if the transports aren't participating?

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  5. #27

    Default Re: Dow Transports

    I mentioned this in Wednesday's commentary...

    The Dow Transportation Index is creating an interesting chart pattern. We have a head and shoulders pattern (red) that is following a prior head and shoulders pattern (blue). What those could be are smaller head and shoulders making up a much larger H&S (green.) It would take a while - probably months - for a right shoulder to form, but down the road this could be creating a major topping formation. That would not be good news since the Transports tend to lead the rest of the market. Like I said, it would take a while to form and it could actually move all the way up by 16,200 while creating a right shoulder.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.


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  7. #28

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    Default Re: Dow Transports

    Great observation. I didn't see those H&S patterns.

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  9. #29

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    Default Re: Dow Transports

    Still going sideways. A break above the right shoulder of around 16,000 would imply new highs. If this rally is as broad based as the bulls are now saying, then this should happen soon.

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