Intraday DOW momentum Intraday DOW momentum, market seems to retrace most of the positive direction. All eye on the FED and their guidance will be the only thing that can change things. So there you go.
DJTA trade ideas
Dow jones TransportIf you like trading in airline stocks, Fedex, and UPS
This is the index you need to watch!
Approaching resistance same as dow.
If we breakout, there is a 7% upside move to whiteline target.
If we reject, possible doubletop back to 12k
#DOWTHEORY transports failing to confirm new highs in industrialIf you believe in Dow Theory then the fact that transports have not been able to make a new high compared to the August Swing highs, should make you doubt the new highs seen in the industrials. Normally this is a sign of underlying weakness so the expectation would be for further weakness to come in general equities.
Dow Jones Transport daily frame (leading diagonal target 11,750)this count gives the possibility that the leading diagonal hasn't completed unless 13,453 price level is broken and the final fifth wave of this subwave will near 11,750
the throwover in the fourth position would equal a price break of the parallel trendline or a possible bottoming out in the midline of that same parallel trendline
Druckenmiller Leading indicator vs S&P5000.33*DJ:DJT+0.33*AMEX:XHB+0.33*AMEX:XRT
INDICADOR 1: Sector Transporte - Dow Jones Transportation Average Index (DJT)
INDICADOR 2: Sector Construcción - S&P Homebuilders Select Industry (SPHOMES)
INDICADOR 3: Sector Venta minorista (retail)
Dow Transports 3hr update (support @13,969 on 9/7/22)quite possible to see this recent hard move down as part of some flat from the 8/16 - 8/22 move down with 15,000 as resistance
higher probability that under 14,000 is the support level the market desiring.
Dow Jones Transport 3hr frame (14,900 on 8/29/22)start of fifth point of ending diagonal
expecting 3 waves from here on out
Dow Transports daily frame (counts starts on 11/2/21) leading dileading diagonal from the 11/2/21 highs
i would expect a break a break to spike below the bottom parallel trendline due the throw over in the fourth position
DJT Is BullishDJT, a leading economic indicator, is breaking out of a long falling wedge pattern that targets the all-time high daily candle body closes. This is yet another piece of the puzzle suggesting a much better second half for this year. Bollinger bands squeezing so tight and multi-month divergences are also indicating that it won't be a small move.
Head and ShouldersPrice is below the neckline.
Target 1 is in larger orange type.
Target 2 if T1 is passed is in smaller orange type.
T3 is smaller and T4 is even smaller.
Covid low is 6481.20
No recommendation
LONG SETUP DJTWe ripped her down, let's see if we can't rip her back up!
This is of course, my favorite market-leading indicator.
DJT Dow Jones Transport Index DJT Dow Jones Transport Index , still holding above key levels on weekly charts, adding this to watch list
DJT,a leading economic indicator,again topping out bef SPX w H&SSomething is wrong! NOWHERE to hide except cash. Even XLP staples crash last week.
Now DJT is showing yet another warning sign. It just broke the very crucial 14k support, completing a head & shoulder pattern. Measured move may send it down to the 11k to 10300 zone.
It is now at 13500 my green pivot box where the red dotted median of my PITCHFORK is located.
If 14k is not reclaimed next few days, I think DJT may be making a 5 waves further down to 12300 where the black VWAP from the pandemic low will intersect. After that it will make a counter trend wave 4 rally back to retest 14k (wave 4 should not cross wave 1) before the final wave 5 dump to my yellow 11k to 10300 zone.
Last time DJT topped-out on 17Sept2018, 16 months before SPX’s peak on 13Jan2020. This time DJT peaked on 2Nov2021. This scenario suggest that recession is already underway & we just dont see it yet, especially if SPX gets rejected again at 4100/4200 again after this week’s expected oversold rally & breaks below 3800. Worst scenario may see SPX further down at 3520 or even 3200.
This time may be different coz we are in uncharted territory with so many headwinds like rising inflation, FED doing whatever it takes to raise interest rates to fight inflation, the invasion & the energy & food crisis it created & also the China lockdown. This time there will be no stimulus & no FED saving the stock market.
Not trading advice. Minimize risks & trade with CAUTION!
Transports Break SupportTransportation stocks have been unusually strong this year, but that might have changed yesterday.
The main feature on this chart of the Dow Jones Transportation Average is the September low at 13,947. Prices managed to remain above this level throughout the market’s correction as other indexes like the S&P 500 and Nadaq-100 knifed below the same respective points on their charts. DJT lost that distinction yesterday as it suffered its biggest drop in almost two years.
Second, the index broke out above its 50- and 200-day simple moving averages (SMAs) in mid-March as the broader market rebounded. But then it reversed and made lower highs at both SMAs in April and May.
Third, that price action dragged the 50-day SMA below the 200-day, resulting in a potentially bearish “death cross.”
Given the importance of “Dow Theory,” which uses Transports to judge moves in the broader market, yesterday’s price action could have bigger implications for sentiment. Traders may now view it as confirmation of a bearish trend.
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DJT:bellwether for stocks & economy just sliced thru 14k supportThis is bad! Stocks are falling even when DXY dollar index & TNX 10-yr yield are retracing.
The Dow Jones Transportation, a leading indicator for the stock mkt & the economy, just
zipped through the 14k key support, down 7.41%. All stock indices had a capitulation-like move Wednesday 18May, the worst since the pandemic days. Even defensive staples, household retailers like Target & Walmart fell.
DTJ has fallen into my green support zone. It may fall further it does not recover 14k soon.
Not trading advice
Dow Jones Transportation AverageIf 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.
DJT @ 3rd green wk. WHY it may be making abc zigzag downAlthough transportation looks bullish now with 2 green weekly close after a big plunger, I still think this is just the b counter wave & there is one more c wave down to my green zone. There are still overhead resistances at various VWAPs.
Transports, like IWM small caps, is a very impt leading indicator of our economy. With oil cost rebounding & labor difficulty adding to a slowing economy due to supply chain crisis,, things just dont turn around in a flash although medium & longterm is still bullish.
Transports usually peaks out way way ahead of SPX. With transports seem recovering, I think SPX will still make a new high in 2022.
Not trading advice
I'M WATCHING TRANSPORTSSome setups might be playing out here as we move further into 2022.
I'll be paying close attention to this market-leading indicator.
No trades currently, watch this space.
Dow Transports saying the crash is yet to comeI have done a 3 prong analysis on the Dow Transports VS the Dow Jones which are indicating a continued move down for the markets in the near future of 1-2 weeks. It could even be a crash.
Does Anyone Remember Charles Dow?Something interesting happened with the Dow Jones Transportation Average recently. Or, more precisely, didn’t happen. The S&P 500, Nasdaq-100 and Dow Jones Industrial Average all breached their October lows amid this year’s pullbacks. But Transports haven’t even come close to those levels.
Notice how DJT bottomed last week over 14,000. That was 1 percent above its trough near the end of the third quarter and start of the fourth quarter.
Turn back the clock a little further to the late 1800s, when Charles Dow famously noticed that railroads and shipping stocks could confirm moves in the broader market. In the current case, “Dow Theory” may be providing non-confirmation of weakness . And that could be bullish.
Second, consider the converging trendlines as DJT eased lower. Is that a falling wedge, another potentially bullish reversal pattern?
Finally, you have the bigger picture because Transports are a classically cyclical part of the market that often benefit from a strong economy . With Covid cases falling, the U.S. reopening and the spring/summer approaching, investors may view Transports as a potential beneficiary.
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TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
DJT transports bottomed; suggest SPY will top=out on 21Feb2023DJT transports & IWM smallcaps are my favorite market leading indicators. They are the first to change market direction. Again on 24Feb, it was DJT that first made a long tail hammer…& it remained the longest.
This is most probably the bottom after DJT made a diamond at impt FIB retracement level & made last capitulation down for a bear trap.
Last 17 Sept 2018 DJT topped-out & SPY follows 16 months later on 13 Jan 2020.
Going to 2021. DJT topped in 1 Nov2021. Projecting forward 68 weekly bars would suggest that SPY may peak out on 21 FEB 2023.
