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 TECHNICALS
Dow Jones Transportation: Sentiment / Behavior Divergence ?
​October 22 ( From Stockcharts , TradingView )
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The Situation

The main technical indicators like the moving average of the Bullish
​Percentage Index ​of the Dow Jones Transportation Average (DJTA) are
​showing some sign of strenght since October 6 2015...​ ​​This indicator
​turned on a bullish trend since then and now stand ​at 70.0%.
​​(Also 70.0% for the 7 DMA - Day Moving Average).

That Indicator is in bullish mode and reached level not seen since ​
​March 6 2015 when the Mighty DJIT was at 8 907 level.
( See First Chart Below - Ellipses )

One interesting Technical element is that on the Bullish Percentage Index ​of the DJTA, we can observe that the Sentiment on the DJTA spiked since mid-October and reached the level of mid-September but the DJTA Failed and far of reaching the mid-September zone. ​A nice Divergence Indeed. ( See First Chart Below - Ellipses )

​​Another factor is that taking the ratio of the Bullish Percentage Index ​of the DJTA over the New York Stock Exchange Composite Index ( NYSE), we can observe that the Relative Sentiment on the DJTA spiked since
​mid-October and reached the level of mid-September but the DJTA Failed to do the same. ( See second chart below )​

But the most interesting technical factor iis that the DJTA trying a break out from mutliple resistance trendlines since October 9 and failed to do so ( See Bottom Chart Below : Red, Blue and Amber Trendlines )




​​


Dow Jones Transportation: Sentiment / Behavior Divergence ?   $DJT #Trading #investing #nyse #dowjonestransportation
DJTA Index Bullish % Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
DJTA Index ( Bottom Panel )​​

 RATIO
​DJTA Index Bullish % Index over ​NYSE Index Bullish % Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
DJTA Index  ( Bottom Panel )​​

Financialiceberg.com
Financialiceberg.com
DJTA  Index ( Daily Candles )
20 DMA ( Yellow Line )
​50 DMA ( Red Line )
200 DMA ( Green Line ) ​