The Transports Bottomed

iyt 300x197 The Transports Bottomed

DOW TRANSPORTS

The other night, I did a post about the power of trendlines, specifically “uptrend” lines that were broken, leading to much lower prices. Tonight, the focus is on downtrend lines that get broken to the upside. Very powerful, especially if the trend line is broken with significant volume.

There is no better example of  a downtrend line reversal than what happened today with the transports. $IYT exploded today, broke its downtrend line with massive volume.

The actual ETF for the transports is highlighted above, with specific stocks within that group listed below. This trend change is importnat for the continued success of this rally. Stay tuned

For more specific analysis and daily setups you can subscribe here.

$CSX

 

csx 300x198 The Transports Bottomed

CSX

$NSC

nsc 300x204 The Transports Bottomed

NSC

$UNP

unp 300x197 The Transports Bottomed

UNP


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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  • Joe Donohue

    Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »

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