Dow Transports Weekly Chart Looks like Big Bear Flag

Discussion in 'Trading' started by e92335i08, Jan 18, 2012.

  1. Check out this weekly chart. *This could be bearish IF IF IF we break below that lower up trend. But pay attention to this flag as the market and transports both have resistance here.

    Your thoughts...
  2. Doji7


    looks bullish to me
    rsi over 50
    white candles
  3. ... bounced off the 200 sma, exploded thru the 50 ...

  4. bc1


    Sep 11 to Jan 12 looks about like Jul 10 to Oct 10. Kinda bullish if you ask me. Similar to the DJI chart. I think factors are different a some kind of downturn is coming but when and how big, who knows. About the time it starts to dip a little like in 2010, then QE3 may save it.
  5. I could be wrong but I don't think it's considered a flag when the retrace is ~ 75-80% of the initial move. That pin bar low in Oct. and the huge volume @ the 50% retrace in late Nov. look mad bullish to me.
  6. et has now become my top indicator to find out what the herd will do next. keep it up guys. what are you guys buying/selling? can you post some charts?
  7. ammo


    pullback to 5220-00 ish
  8. ammo


    50 % of fish hooks gap
  9. Yes... although take a look at the 5 minute and 60 minute charts... huge divergence in most everything, including rsi and macd... I'll post screenshots shortly.
  10. well, I am talking about individual stocks. can anyone help me? em, I want to short something.
    #10     Jan 20, 2012