SPX - DJT - CORRELATION CONFIRMATION - DEMAND IS NOT THERE!SPX - DJT -CORRELATION CONFIRMATION - DEMAND IS NOT THERE!
The SPX and DJT are highly correlated, this is to say that the correlation indicates the underlying demand for goods requiring transportation. In a previous chart using the same tickers I showed you that there was no confirmation of an economic 'slowdown', this time we do!
NOTE where I have made notations. The previous confirmation was Februray, 2020 - need I say anymore.
** NOT FINANCIAL ADVICE **
Djtransport
The world needs transportation...These are sort of my levels. Aren't you worried about crude level? I mean... Do you think this will ever recover its shape again? It's just common sense and because this world is moved by money and transportation issues mainly.
How do you imagine this future?
Thanks again!
DJ Transport to Range Trade for the rest of the yearLooking at support and resistance lines plus various moving averages, I would say the DJ transports is like to range for the rest of this year or until September.
After this time, this is when the market in general will make a decision about where the market is headed. My bias is for the downside.
At the current moment i'd say its a good sell to support.