So This morning I took a quick peek at dow transports chart along with the dow jones charts
Now I know that the Dow jones transports chart is now not as fully weighted as it once was, but I have learnt that you should chart this every day, as its the leader of the market. So its a good habit to get into.
When you look at the dow jones chart, and also the dow jones transports chart you can see that the DOW JONES just popped below the 50 day moving average line today, and the transports, is looking sickly. It cannot even get its head above level. Maybe this is a warning that some more selling might be about to come into the market. Sure looks that way anyway? time will tell.
I am not saying we will crash soon, no way! But what I am saying is that when these patterns stick out like a sore thumb one must pay attention.
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|dow transports chart|
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