FINANCIAL ICEBERG
Always consider hidden risks
​
 TECHNICALS
Dow Jones Transportation: Sentiment / Behavior Divergence ?
​October 22 ( From Stockcharts , TradingView )
If you would like to receive our free daily markets updates, please Sign-Up









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 ) ​