Dow Transports

Dow Transports can be considered as a 5 wave decline. Wave 1 was a leading diagonal as shown last year. Wave 4 was a triangle [yes I considered it as B too, but this is an alternate], then wave 5 ended and we have retraced almost 61.8% which is at 8208, near the wave 4 high. Most of the upside is done here and we wait for a clear sign of the next leg down showing up.