Dow Transports Chart

When you take a look at the transports chart, we can see that we are at 10 year highs.

Back In JUNE HERE IN THIS POST we hinted the market was still  looking to go higher, and that did infact come to fruition.

The transports is a great leader of the market, or a leader of the indicies and has had a fantastic run, and it shows proof that right now we are in a bull market. In the short term however, we might have run up too fast, so we shall see where the leader wants to take us next?

Dow Transports Chart

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Daily Transports Chart

Daily Transports Chart

The Daily Transports chart has been in a solid uptrend channel since the end of JUNE this year. YES! we are overbought here, and we are watching this chart, but still no clear sell signals have formed as you can see below.

There are alot of earning this week, and we are only half way through. So it will be interesting to see what happens towards the end of the week. But again the transports are the leader of the market, and so far still holding quite well. 

Daily Transports Chart

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Dow Jones Transports Daily Chart

We told our VIP MEMBERS HERE to watch this leader, and it has paid off well.

As you can see on the trannies chart below (or the leader of the market) we have not spent 2 days below the EMA 50 line. In the past this has not been a good sign for the market, or is a big warning sign we would like to think.

The fed announcement this week has really played havoc with the market, but we love these volatile trading conditions as it has presented some very good trading opportunities.

dow jones transports chart

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