TRAN Transportation Average Daily Chart Sideways Symmetrical Triangle

Here is an update for the Trannies. Use the search box above for 'TRAN' to check the previous chart.  Price is exactly at the top rail of the sideways triangle pattern at 5170.  There is no more leeway above so if the market bears want to make a stand, they better bring their A game tomorrow. As the market rally moves ever higher, copper, utilities, small caps and trannies have all lagged.  Of course the Transportation Average is important from Dow Theory perspective since TRAN needs to confirm the higher highs occurring in the Dow Industrials, but, has not. In fact, TRAN is not even in the ball park for higher highs. This can all change if price breaks out above the upper trend line.

There is a big move coming. Price is running out of runway so a decision has to be made.  Whether price punches up thru the trend line, or receives a spank down, will be very telling tomorrow. 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