Dow Jones Transportation Average Index morning technical analysi
Technical analysis of DJT (Dow Jones Transportation Average Index).
Watching this ticker as a leading indicator of a market downturn.
As SPX and NDX have made new ATHs this week, DJT is down 3.65%.
Blow-off top happened in November 2021.
It is hard to see price action since September 2022 as impulsive. Perhaps it will turn out impulsive after everything is all said and done; this count assumes it will not.
Bears looking for this to play out as a regular flat, with the C wave as a violent sell-off below 10k. Implies some black swan event, but such an event is not necessary.
Watching this ticker as a leading indicator of a market downturn.
As SPX and NDX have made new ATHs this week, DJT is down 3.65%.
Blow-off top happened in November 2021.
It is hard to see price action since September 2022 as impulsive. Perhaps it will turn out impulsive after everything is all said and done; this count assumes it will not.
Bears looking for this to play out as a regular flat, with the C wave as a violent sell-off below 10k. Implies some black swan event, but such an event is not necessary.
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