Subscribe to RSS feeds Bulkowski Blog via RSS

Thomas Bulkowski’s successful investment activities allowed him to retire at age 36. He is an internationally known author and trader with 30+ years of stock market experience and widely regarded as a leading expert on chart patterns. He may be reached at

Support this site! Clicking the links (below) takes you to Amazon.com. If you buy ANYTHING, they pay for the referral.

Picture of the head's law.
Kindle
Paperback
Nook
Chart Patterns: After the Buy
Getting Started in Chart Patterns, Second Edition book.
Trading Basics: Evolution of a Trader book.
Fundamental Analysis and Position Trading: Evolution of a Trader book.
Swing and Day Trading: Evolution of a Trader book.
Visual Guide to Chart Patterns book.
Encyclopedia of Chart Patterns 2nd Edition book.

Bulkowski's Blog Archive: ^DJT

Class Elliott Wave Fundamentals Psychology Quiz Research Setups Software Tutorials More...
Busted
Patterns
Candles Chart
Patterns
Event
Patterns
Small Patterns
Market
Industrials (^DJI):
Transports (^DJT):
Utilities (^DJU):
Nasdaq (^IXIC):
S&P500 (^GSPC):
As of 03/24/2017
20,597 -59.86 -0.3%
8,929 -7.37 -0.1%
706 3.20 0.5%
5,829 11.05 0.2%
2,344 -1.98 -0.1%
YTD
4.2%
-1.3%
7.0%
8.3%
4.7%
Tom's Targets    Overview: 03/14/2017
21,250 or 20,600 by 04/15/2017
9,500 or 8,700 by 04/15/2017
675 or 715 by 04/01/2017
5,950 or 5,650 by 04/15/2017
2,425 or 2,325 by 04/15/2017
Mutt Losers: None YTD
Mutt Winners: None YTD

Written by and copyright © 2005-2017 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.

 

Blog Posting: March 10, 2008, Dow Transports (^DJT)

Dow transports on the daily scale

The figure shows the Dow transports (^DJT) on the daily scale. The decline that I have been expecting since my first posting on the transports in early February, looks as if it is underway.

Overhead resistance shown as a green line drawn along the peaks caused the average to reverse at the triple top marked with the three Bs. Price has formed a partial rise at A and continues lower.

If symmetry takes hold, the transports should find support near the November low, making the pattern look like a head-and-shoulders bottom. That might be possible since it has taken longer than I expected for the transports to move downward. However, in this market, anything can happen so I would not be surprised to see the transports continue down to the price of the January low.

Top 

Aftermath

The Dow Jones transports on the daily scale

Price completed a partial rise (at A) just as I suspected and broke out downward from the triple top/broadening formation, right angled and descending pattern. Then it stopped near the price level of the left shoulder low, forming a right shoulder, RS. Clearly it never made it down to the January low, but that was a long shot anyway.

-- Thomas Bulkowski

 

 

 

 

 

See Also

Written by and copyright © 2005-2017 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Airline luggage virus: You're in Dallas, but your data is in Singapore.