Stock Market Analysis May - Dow Jones Transports

Stock Market Analysis May - Dow Jones Transports

We have been watching dow jones transports for a while and is why we are a little hesitant. The transports chart is important and not many traders know you should watch it every day, as its deemed the leader of the market....

Here is the lastest analysis of the daily dow transports chart, with a pattern that could be sticking out, termed a HEAD AND SHOULDERS CHART!. 

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dow transports chart - dow transports chart warning us

dow transports chart - dow transports chart warning us

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.

Anywho.....

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.

I cover more and more technical analysis ==> HERE in our VIP members section.

dow transports chart

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dow jones transport update

dow jones transport update

The leader of the market did have quite a nice sell off today, back down to 7287. What I can say is that 2013 was a massive run, so the market was eventually going to see a day like today.

What is noticeable on this chart below is that every time we go down to 50 period moving average, we seem to bounce nicely off there. So right now as you are reading this, the 50 EMA is hanging around the 7116 mark, so we will see if the bears can get us back down there in the next week or so.

The money waves indicator right now is on a sell signal, and that means there could be lower prices coming, which again is another contributing factor or evidence that the bears could do a bit of damage here in the short term.

dow jones transport update

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