Friday, October 23, 2009

Transportation Index Double Top Update


Chart update from a chart posted 2 days ago. The transports are a great barometer of market and economic strength or weakness. I will be watching the development of this pattern very closely. You should too.....

3 comments:

Anonymous said...

As you said, it looks like 3600 to 3700 is significant. Is it correct to say a similar pattern happened in early May and early June, followed by a smaller version of it in August? Both times support held and the market moved up.

Greg

Carlos JĂșlio said...

Hi!
Let me send you my 2 cents.
SPX 500 - Monthly - " Follow Trend "
I use some indicators that I created, but I like to follow the traditional indicators.
Important to follow market and follow trend.
Follow the trend is have the opportunity to make money more easily. And that's what all the trades want.
This chart is one of my preferred to see the long term.
With a week over a monthly closing, we have only 50% of bullish signal.
For a bull market I need to see:
1 - Close > Moving Average;
2 - RTS Indicator -> Black line > yellow zone.

http://followmarketrend.blogspot.com/2009/10/spx-500-monthly-follow-trend.html

SPX - Road Map " Bullish Scenario"
http://followmarketrend.blogspot.com/2009/10/spx-road-map-bullish-scenario.htmlSPX500 - Weekly Update

**************** Advise ********************
Build short positions > 1080
Fisrt Target [1005,1020] 70%
Secound Target [975,980] 30%
********************************************
Indicator didn`t follow price.
Testing this week again trend Medium vs Long Term.
Market Losing Momentum.
Possible bearish divergence but need confirmation.
http://followmarketrend.blogspot.com/2009/10/spx500-weekly-bearish-divergence.html
Nice weekend for all

Stewie said...

i am still not convinced we are TOPPING OUT. as of now, corrections are still in BUY mode greg. we are close to year end and historically a very bullish time for stocks.

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