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Short

Megaphone pattern formed in the DJ Transports

141
Looks pretty clear to me that with falling Oil prices, and a bounce off the former upward trending support, we have a megaphone formation appearing in the price. This means that we are likely headed for a target of roughly 7000. Possibly beyond that with a negative catalyst. As a leading indicator for the DJ30, DOWI with Dow theory, this signal is extremely negative.
maccabean
Also on:
bubbledjiaDOWDOW Industrials (DOWI)dowjonesdowtheorySPX (S&P 500 Index)S&P 500 (SPX500)StocksUS30

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bubbledjiaDOWDOW Industrials (DOWI)dowjonesdowtheorySPX (S&P 500 Index)S&P 500 (SPX500)StocksUS30
maccabean
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.