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DJ Transportation: Still Outperforming ?
 February 17 ( From TradingView )
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The Situation

We just start to realize how deep the correction last summer was on the ​​
​US equity market: On the low made on August 24 2015 on the Dow Jones
​Transportation ( DJT ) at ​7452.70, even if few realize that the DJT now trade
​well below that level. ​( See first chart below: Amber Trendline )
​​​
The Mighty Dow Jones Transportation Average Index (DJT) is in bad 
technical shape but lately started to outperformed tremendously.

Here is some Technical Observations:​​​
​1) DJT is at 12.6% from its bottom reached on January 20 2016 and
SP500 is at only 4.7%​​​​. ( See first chart below )​

​​2) DJT from highest peak price ( reached on November 28 2014 ) to the lowest price yet ( reached on
​January 20 2016 ) was 31.2% and only 15.2% for the Mighty SP500. ​​​​( See first chart below )​

​​​​3) DJT tested and broke already the Weekly Major Support Trendline that started back on October 2014.
​​​​( See chart below - Thick Blue Trendline )​

​​​​​​​4) DJT is back above the Weekly Major Support Trendline that started back on March 2009.
​ ​​​​( See chart below - Thick Red Trendline - Ellipse )​

5) ​​It is the first time since July 27 2015 that we have that ratio (Dow Jones Transportation ​to the Mighty Dow Jones Industrials) getting above the 50 DMA ( Day Moving Average ).
​​( See second chart below - Red Line - Ellipse )​

​​6) ​​It is the first time since July 28 2015 that we have that ratio (Dow Jones Transportation ​to the Mighty SP500 Index) getting above the 50 DMA ( Day Moving Average ).
​( See third chart below - Red Line - Ellipse )​

 ​
As the ​​​​​Dow Jones Transportation ​is finally rebounding strongly, Bulls need a weekly close above the previous break down Major Trendline that started back on October 2014 to see a bigger bull impulse and not only a dead cat bounce. ​( See First Chart - Thick Blue Line - Ellipse )





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Charles Dow
DJ Transportation: Still Outperforming ? $DJT, $SPY #investing #dowtheory #SP500 #dowjonestransport

Dow Jones Transportation ​
​( Weekly Candles )

Financialiceberg.Com
Financialiceberg.Com
Daily RATIO ( Blue Line )
Dow Jones Transportation ​
over​
​Dow Jones Industrials ​
50 DMA ( Red Line )​

Daily RATIO ( Blue Line )
Dow Jones Transportation ​
over​
​SP500 Index ​
50 DMA ( Red Line )​

Financialiceberg.Com