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Or you can now use TapaTalk again!Bquat's Account Talk
- Thread starter Bquat
- Start date
DreamboatAnnie
Well-known member
I have no idea if it has dropped enough. Can't make heads or tails about this market. Transport should be a leading indicator, so the drops shown do not bode well for market. Would be great to see it move up.
DreamboatAnnie
Well-known member
Agree JTH.
I remember that all last year last year you and Bquat posted a lot of Transportation charts. That has been in a downtrend for a long time as you pointed out, and that did happen before the top in the dow in June 2015 and has continued downward until now. So it definitely has acted as a leading indicator for equities and a big bear!
I am thinking this year is more like 2008 because its been so long since we had a major drop. Not sure it will be as bad as 2008...I am going with that scenario.
So based on that and the current drop level in MACD and next resistance I see in the DJTA chart, I think DJTA drops to 6500 or so, goes back up to about 7000 and then does a double bottom to hit down at 5200, but not right away. Maybe the true bottom hits around April?? Obviously, this is all conjecture/my read. The double drop I refer back to is Oct 2008/Mar 2009 ..6 month period. So I say April 2016 would be the second bottom..and i figure China has another shoe to drop .....also keeping in mind they now have new rule (ef 1-9-2015) that prevents large sell offs....limits large corporate stock sales to 1% each quarter.
Here is a chart that is rather hard to see, but I just eyeball it to see support and resistance and compare 2008 to the last year up to now.
Dow Jones Transportation Average, DJT Advanced Chart - (DJI) DJT, Dow Jones Transportation Average Stock Price - BigCharts.com
Best wishes to you and everyone on your investments!!!!!!!!! :smile:Last edited:
DreamboatAnnie
Well-known member
Oopssseyy! Double pos deleted!
Mcqlives
Active member
You nailed it again! I would have said something yesterday but was afraid of hexing it for all of us in the markets. Now, with 15 minutes left, I feel safe saying:
KUDOS!
Bquat
Well-known member
Thanks:
Bquat
Well-known member
Be good to watch IRA tonight when he comes out with the financials video tonight. We should come out of the bearish embedded region today: https://www.youtube.com/user/IraEpsteinFuturesSimilar threads
