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Friday's Update

Friday, August 28th. - Stock Trends, Charts, and Commentary
                                         (***If you see last week's Wednesday Update: Click Here

For the Dow Theory enthusiast, below is a daily Transport chart as of yesterday's close.   Note that it closed higher yesterday and it was above its 7700 resistance level.   That was a positive.

The negatives are that it was still in a technical down trend, and it is now exposed to the possibility of making a "head & shoulders" pattern.   If such a pattern plays out, the Transports would move higher, not make a new high, and then fail to the downside.

 


 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 


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