Wednesday, June 10, 2015

TRAN Dow Transports Daily Chart in -10% Correction

The Dow Transports Index dips into -10% correction territory joining the Dow Utilities Index. The all-time high for trannies is 9269 on 11/25/14 and all-time closing high at 9217 on 12/29/14 so a -10% correction is the 8342 and 8295 levels respectively. Both are violated in yesterday's trading although TRAN recovered slightly to end the session at 8307.

For this year the TRAN high is 9244 on 2/25/15 and closing high 9178 on 2/24/15 which yields -10% correction numbers at 8320 and 8260, respectively. The LOD yesterday, 6/9/15, is 8256 under all the -10% levels highlighted sending trannies into correction mode joining the utilities.

From a Dow Theory perspective, the Transports never confirmed the upside rally in stocks with the Industrials. The Dow Industrials printed new all-time highs this year but the Transports have not. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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