Trannies weekly chart indicators show the underlying weakness in this sector all year long, despite the highs, and now big time high yesterday. The rising wedge and negative divergence is creating a spank down. This chart says that the pundits talking about continued bullishness in transportation, and the broad indexes, as per Dow Theory, are not correct. This is simply another top and price will roll over again. Note the hanging man candle this week thus far so watch to see if the week closes with the hanging man candle. Projection is another top here; the negative divergence will smack price back down. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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