A Look At The Dow Jones Transportation Average Index

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A Look At The Dow Jones Transportation Average Index

By David Spurr on February 8, 2009 | More Posts By David Spurr | Author's Website

1. Test of Overhead Trendline Coming (bold red)

2. Walking Along Fan Line

3. Channel w/in a Channel

4. Declining Volume - Price Moving Higher

5. Bear Trend intact - Countertrend rally - Sell Resistance 3355 (Bold red trendline)

1. Indicators all pointing UP - suggesting that rally has more to go.

2. Not overbought…yet. More to go higher.

1. Weekly chart - indicators are closer to lows, coming off bottom

2. MACD below 0 line

3. DMI - Strong Negative Trend Still in place

4. Stochastic - oversold, below 20, has not crossed signal line.

5. Indicators still negative.

6. Price action - reversal to the upside.

1. Monthly charts - negative indicators - all.

2. Price - lower low - lower high

3. Bear Market intact

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