Dow Transports monthly has 5 ascending trendlines from the 2003 low which qualified it as a blowoff exhaustion move up. Friday punched through a 200% extension of the first wave up (if you choose to look at it that way), then reversed and finished below it.
The daily has this shooting star last Friday which happened to be 44 days from the 15/10 low. A 45 days exhastive move would be a not unusual way for an exhaustion to complete. No opinion one way or the other, remaining subjectively objective, just showing some charts and making some comments about what I see on them.
Hope to get some more stuff posted in the near term subject to other matters not taking up too much time and energy.
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Last
8,630.3 |
Change
59.900(0.70%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,570.4 | 8,632.8 | 8,570.4 |
| XJO (ASX) Chart |