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Dow Transports

20 Sep 2013 ‚óŹ 04:06 AM

The DJT was the other index I have been watching to identify an end point since the key US indices have just move higher. It is coming very close to completing the anticipated legs. At a larger degree it was in wave B that could extend to 6850 based on the 1.382 fibonacci ratio. In May I identified an expanding triangle on it and it still had to complete wave E of that leg. In July when it topped wave E could have completed but the July rally was impulse and so only wave a of E, Wave b in August turned out as a triangle and so now we are in wave c of E the final move that has risen in 5 waves. It closed positive today but if it turns down the move would appear complete just short of the target zone. Once complete this is a major index that would mark a top for the US markets.

djt200913

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