Dow Transports

The Dow transports index is also very interesting. The fall can be marked as a 5 wave decline that broke the rising trendline from 2009 temporarily. The part marked wave 4 is a textbook contracting triangle. The bounce back in wave B retraced exactly 61.8% and prices have started to fall again. So wave C can mark the start of a major leg down. C=A would be near 5400 from 7667 yesterday.