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DOW JONES TRANSPORTATION AVERAGEDOW JONES TRANSPORTATION AVERAGEDOW JONES TRANSPORTATION AVERAGE

DOW JONES TRANSPORTATION AVERAGE

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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!
DJ:DJTShort
by xtremerider8
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. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information 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. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. 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 .
DJ:DJT
by TradeStation
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
DJ:DJT
by xtremerider8
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
DJ:DJT
by xtremerider8