Dow Transports

26 Jul 2016 ‚óŹ 05:34 AM

The Dow Transports was the laggards last year or leading the way down. Now after the recent new highs in the S&P it only retraced 61.8% at the April high and is now making a lower top that that. A trendline from the Oct high was hit before momentum rolled over yesterday. I know some people seeing an inverted H&S here but I consider that as important only if I am sure that the rally from the head is impulsive. So watch the line as momentum is rolling over and could indicate start of the next wave lower.

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