The S&P 500 Railroad index in the lower right chart on 5/17, was up against rising channel resistance, while the DJ Trucking index was breaking below a bearish rising wedge (See Transportation derailment post here). Both of these industries are very important to the economy and the “Power of the Pattern” was suggesting trouble was around [...]
The chart below was posted on 7/28, reflecting that negative patterns in the leading transportation industry was at hand and they were suggesting that gravity can be pretty painful and Ole Wiley was waving good bye to current prices.. (See post here) IYT and the DJ Trucking index were both suggesting a high level of [...]
CLICK ON CHART TO ENLARGE They say that it isn’t the fall that hurts…its the sudden stop! In investing, gravity can have an impact on portfolios when key support gives way! IYT and the DJ Trucking index look like they are struggling with key support of late!
CLICK ON CHART TO ENLARGE Transports hit a high a few days before the Dow did back in April. With these key Tranportation sectors close to the top of falling resistance and creating “bearish upside wicks” today, investors should respect the potential message!!!
CLICK ON CHART TO ENLARGE How the Tranports do can say a ton about the overall economy! At this time IYT hit key Resistance at the top of a wedge, which looks to have broken some of its upside strength. On a short-term basis, IYT has broken a short-term support line at (2), yet nothing [...]
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