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Bulkowski's Blog Archive: ^DJT
Class Elliott Wave Fundamentals Psychology Quiz Studies Setups Software Tutorials More...
Busted
Patterns		 Candles Chart
Patterns		 Event
Patterns		 Small Patterns
As of 08/20/2019
  Indus: 25,962 -173.35 -0.7%  
  Trans: 10,006 -75.35 -0.7%  
  Utils: 834 -1.95 -0.2%  
  Nasdaq: 7,949 -54.25 -0.7%  
  S&P 500: 2,901 -23.14 -0.8%  
YTD
 +11.3%  
 +9.1%  
 +17.0%  
 +19.8%  
 +15.7%  
  Targets    Overview: 08/15/2019  
  Up arrow27,200 or 24,900 by 09/01/2019
  Up arrow10,700 or 9,550 by 09/01/2019
  Up arrow850 or 790 by 09/01/2019
  Up arrow8,200 or 7,400 by 09/01/2019
  Up arrow3,000 or 2,750 by 09/01/2019
As of 08/20/2019
  Indus: 25,962 -173.35 -0.7%  
  Trans: 10,006 -75.35 -0.7%  
  Utils: 834 -1.95 -0.2%  
  Nasdaq: 7,949 -54.25 -0.7%  
  S&P 500: 2,901 -23.14 -0.8%  
YTD
 +11.3%  
 +9.1%  
 +17.0%  
 +19.8%  
 +15.7%  
  Targets    Overview: 08/15/2019  
  Up arrow27,200 or 24,900 by 09/01/2019
  Up arrow10,700 or 9,550 by 09/01/2019
  Up arrow850 or 790 by 09/01/2019
  Up arrow8,200 or 7,400 by 09/01/2019
  Up arrow3,000 or 2,750 by 09/01/2019

Written by and copyright © 2005-2019 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners.

 

Blog Posting: February 7, 2008, Transports: Descending Broadening Wedge (^DJT)

The Dow Jones Transport Average on the weekly scale

The chart shows the Dow transports on the weekly scale with two red lines outlining a descending broadening wedge. A full 79% of stocks showing a descending broadening wedge breakout upward, so maybe there is hope for the transports after all. If the breakout is upward, then the target price would be the top of the wedge, or about 5,000.

Another possibility is that the transports will do a partial decline after touching the top trendline. In that pattern, price drops, curls around, and then busts out the top of the pattern.

A descending broadening wedge has a partial decline 62% of the time and it correctly predicts an upward breakout 87% of the time in a bull market.

 

 

Top 

Aftermath

The Dow Jones transports on the daily scale

The transport average decided to do the partial decline thing. That occurred at A when price dropped down from the top trendline but did not come close to the lower trendline before reversing direction and punching through the top trendline. A breakout occurred when price closed above the top trendline at B.

-- Thomas Bulkowski

 

 

 

 

 

 

See Also

Written by and copyright © 2005-2019 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners. Elvis Virus: Your computer gets fat, slow, and lazy, then self destructs, only to resurface at shopping malls and service stations across rural America.