Wednesday, May 6th. - Stock Trends, Charts, and Commentary (***If you see last week's Wednesday Update: Click Here)
The Danger with the Dow Jones Transportation Index ...
Below we posted the DJT Index chart. It is a daily chart that shows the 6+ Month trading range the DJT is in.
Yesterday, it held the trading range's support, but its down tick took it perilously close to the support line.
What to do now: Keep a careful eye on the DJT and its support line. If the DJT should fall below its support, it could unleash a rash of selling programs in the stock market. (Also remember ... the longer a trading range in time, the larger the move when a breakout does occur.)
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