Is a Dow Theory Non-Confirmation In Play?
The original Dow Theory states that the market is in an upward trend if either the industrial or transportation index advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to a new all-time high, and the Dow Jones Transportation Average (DJTA) follows suit within a reasonable period of time, the upward trend is confirmed.
Elliott Wave Analysis of the Dow Jones Transportation Average by Sid from ElliottWavePredictions.com
Elliott Wave Analysis of the Dow Jones Transportation Average by Sid from ElliottWavePredictions.com. Click on the charts twice to enlarge. The “reporters” at the most prominent financial TV news network have lately been chirping about Dow Theory, the oldest known form of technical analysis of the markets, proclaiming that new highs in both the Transports […]
Elliott Wave Analysis of the Dow Jones Transportation Average (DJTA) by Sid from ElliottWavePredictions.com
Elliott Wave Analysis of the Dow Jones Transportation Average (DJTA) by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge. Of the major U.S. equity indices, the Dow Jones Transportation Average has been producing some of the cleanest non-ambiguous Elliott Wave patterns over the past few months, and the implications of the wave structures support […]
