Dow Transports gone....

A second look at the charts hasn't improved the prognosis. The Dow broke open/close support from November (but hasn't violated lows - yet)

However, the Dow Transports cratered and it looks certain the Dow will do likewise. The break occurred on a third distribution day since the last accumulation day.

Summation Indices turn down from overbought conditions - this could fall a long way; NYSE below

Ugly day - Ugly outlook.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website

Popular posts from this blog

"Inverse Hammer" on Russell 2000 Breakout

'Bear Traps' for the Nasdaq and S&P as Russell 2000 holds above support

Bullish Engulfing Patterns Across Russell 2000, S&P and Nasdaq


Show more