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$IYT Trend line SupportThe AMEX:IYT ETF, which is currently at a critical trend line support level. This pivotal juncture could very well influence the ETF's directional bias in the short to medium term. For those looking at potential entry or exit points, this may present an ideal moment to reassess your positions and investment strategies involving $IYT. Trend line support levels often serve as crucial indicators for bullish or bearish market sentiment, and a confirmed break or bounce at this level could provide actionable insights for your trading decisions.
AMEX:IYT
by AlgoTradeAlert
Dow Jones Industrial Average Key MomentMACRO 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 $DJI. For this reason, in some circumstances we can use the DJT as a helpful leading indicator for the direction of the economy Currently we are at a critical juncture on the DJT chart as we are testing significant resistance levels - The DTJ Index is at a critical diagonal and horizontal resistance level - A break through or rejection of the resistance will provide insight into the direction of the economy - There is a potential Head and Shoulders pattern that needs to be validated or invalidated which will be defined by the price reaction to the resistance zone. We can observe what happens over the coming weeks and how price reacts to the resistance. Can it break above it and turn it into support? When the DJI is climbing higher while the DJT is falling, it can be a signal of economic weakness ahead. A divergence of this sort means goods are not being transported at the same rate they are being produced, suggesting a decline in nationwide demand. This type of divergence occurred prior to the March 2020 crash with the DJT making its ATH in Dec 2020, thereafter the DJI made a new ATH in February 2020 whilst the DJT was closing almost 5% lower making a lower high. Those that study Dow Theory were key observers of the divergence and acted accordingly safeguarding their portfolios. Thankfully, at present there is no divergence. I will follow up in the comments with a chart showing that the DJI and the DJT are currently very closely aligned. Regardless paying close attention for a divergence could be very beneficial for your portfolio. I will certainly be on the look out and notify you in the event of. Thanks for reading and welcome to Macro Mondays PUKA
DJ:DJT
by PukaCharts
$DJIA -Awaiting Apex's End (break-out) - AMEX:DJIA has managed to raise up in price for three consecutive days. Resulting a break-out from Neutral Triangle Pattern, aswell Shifting Character from it's most nearest high 1:17 Risk -to- Reward Ratio call given inside on break-out day. 17% gains to be met overtime as long uptrend resumes on Market Structure. This is very well co-dependent on whatt TVC:DXY will perform through the next interest rate hikes decision to be made. Back to AMEX:DJIA , worth mentioning aswell is that DJ:DJT (Dow Jones Transportation Index) has exploded +50%. Usually these types of impulsive moves of DJ:DJT smell trouble for AMEX:DJIA in the short term, but strong in fundementally speaking, as long price rises with DJ:DJT . (some sort of correction can be anticipated from the recent price action) Safest Buy-in from here ; re-test of broken CHoCH and Triangle's ceiling) TRADE SAFE *** Note that this is not Financial Advice ! Please do your own research before partaking on any trading activity based solely on this Idea
TVC:DJILong
by Mr_J__fx
DTX - Dow Jones Transportation Average REKT!DTX looking prime for a drop to sub $350 longt term, when this correction is over! After a little dead cat bounce and continuation to the down side. All of my 4 indicators showing bearish confirmations on the Monthly Time Frame. Don't believe the misinformation on the news blaming this on the war in Ukraine! All this mess was caused by your government's money expansion policies and half a decade of Quantitive Easing (QE)! - Weekly MACD (Bearish) - Weekly Pekipek's Divergence BETA (Bearish) - Weekly RSI (Bearish) - Weekly Stochastic RSI (Bearish)
DShort
by ankhramsiswmriimn
DTX|DOW JONES TRANSPORTATION:PRICE ACTION+FIBONACCI ANALISY|LONGWelcome back Traders, Investors, and Community! Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
DLong
by FOREXN1
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