Dow Jones Transportation Average – a chart tour starting in 1896

if you have been following the posts over the past couple months, you’ll find that I’ve moved (pretty much alone) into a very cautious, if not outright  bearish mindset based on the patterns that are appearing across the circle of life.  one of the more prevalent patterns that I’ve been watching is the DJTA.  from the all time low of 49 on 10/29/1896 it has been shown how this key “node” was the anchor behind support in 1987, 2000 and 2009.  Using this node we can now project for targets on the DJTA.  anywhere between 7400-7600 on the index should be extremely important resistance if not an a major inflection point.  here is the chart (updated as of 11/30/2013)

November 30 2013 DJTAso, we’ve got just a little bit more to the upside, so I decided to take a peak at the entire DJTA and look for patterns that support a bearish nature once this level is hit.  take a view thru the charts, no screaming buys but I do see 1) parabolic rises, 2) monthly sell patterns appearing and 3) some stocks that topped years ago.  so, be mindful of this level and, well, we’ll see if the  patterns work or not ….

JBHT dec 01 2013 jblu dec 01 2013 Main20131201105517 kex dec 01 2013 lstr dec 01 2013 matx dec 01 2013 NSC dec 01 2013 Main20131201110751 luv dec 01 2013 unp dec 01 2013 UAL dec 01 2013 ups dec 01 2013 November 30 2013 DJTA December 01 2013 ALK chrw dec 2013 CNW december 01 2013 CSX dec 01 2013 delta dec 01 2013 EXPD DEC 01 2013 FDX DEC 01 2013 gmt dec 01 2013

 

 

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