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Dow Jones Transportation Average Index

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DJT trade ideas

Dow Jones Transportation Average Index morning technical analysiTechnical analysis of DJT (Dow Jones Transportation Average Index). Watching this ticker as a leading indicator of a market downturn. As SPX and NDX have made new ATHs this week, DJT is down 3.65%. Blow-off top happened in November 2021. It is hard to see price action since September 2022 as impulsive. Perhaps it will turn out impulsive after everything is all said and done; this count assumes it will not. Bears looking for this to play out as a regular flat, with the C wave as a violent sell-off below 10k. Implies some black swan event, but such an event is not necessary.
DJ:DJTShort
by discobiscuit
A comparison of indicesThis analysis compares NDX, SPX, Dow Jones Transportation Index, and NYSE Index. This analysis assumes that the indices are highly correlated and at similar points in their larger Elliott Wave structures. This assessment views NDX, DJT, and NYA data as the primary wave 5 of SPX, whose data goes back into the 19th century. NDX, had an extra impulse wave to complete, which allowed for the B wave in SPX. It's hard not to see the five wave impulse in DJT, whose price has not gone above its 2021 high. It also makes me question whether SPX's bounce off October 2022 low has been corrective rather than impulse. What I think gives this analysis some validity is the contracting ending diagonal wave 5 of NYA, which is the only way it can be labeled, given its position relative to the other indices, if indeed the other counts are correct. Anything can happen, obviously, but I think the lesson from this possibility is for bulls to trend lightly.
DJ:DJT
by discobiscuit
Dow Jones Transport tends to predict inflationThe yellow line is inflation and the candles show the Dow Jones Transport index which represents the fortunes and costs of transportation companies. Transport is a major cost to getting products to market and so if DJT is going up it often then is reflected in the official inflation rate after a lag. Right now DJT is in a downtrend since the middle of this year. Unless it bounces from here and starts to make higher highs the DJT as a predictor of inflation suggests that inflation is contained. As I showed in my RINF chart, this isn't what is anticipated by the market.
DJ:DJT
by Abzorba
Dow Jones Industrial Average Key MomentMACRO MONDAY Dow Transportation Average Index DJ:DJT The Dow Jones Transportation Average (DJT) is a price-weighted average of 20 key transportation stocks traded in the United States. The transportation sector acts as a leading indicator as it is further up the value chain ahead of the final products being sold by companies in Dow Jones Industrial Average $DJI. For this reason, in some circumstances we can use the DJT as a helpful leading indicator for the direction of the economy Currently we are at a critical juncture on the DJT chart as we are testing significant resistance levels - The DTJ Index is at a critical diagonal and horizontal resistance level - A break through or rejection of the resistance will provide insight into the direction of the economy - There is a potential Head and Shoulders pattern that needs to be validated or invalidated which will be defined by the price reaction to the resistance zone. We can observe what happens over the coming weeks and how price reacts to the resistance. Can it break above it and turn it into support? When the DJI is climbing higher while the DJT is falling, it can be a signal of economic weakness ahead. A divergence of this sort means goods are not being transported at the same rate they are being produced, suggesting a decline in nationwide demand. This type of divergence occurred prior to the March 2020 crash with the DJT making its ATH in Dec 2020, thereafter the DJI made a new ATH in February 2020 whilst the DJT was closing almost 5% lower making a lower high. Those that study Dow Theory were key observers of the divergence and acted accordingly safeguarding their portfolios. Thankfully, at present there is no divergence. I will follow up in the comments with a chart showing that the DJI and the DJT are currently very closely aligned. Regardless paying close attention for a divergence could be very beneficial for your portfolio. I will certainly be on the look out and notify you in the event of. Thanks for reading and welcome to Macro Mondays PUKA
DJ:DJT
by PukaCharts
$DJT: Dow Jones Transportation Average Not Confirming The RunIf you wanted to know whether or not the market was on a bull run or not, all you had to do was look at the Dow Jones Transportation Average or even AMEX:RSP (which definitely does not fit the bull market, showing that overall the S&P 500 has barely broken 15% gain since October). More important though is the transportation average breaking off from the rally ahead of the rest of the market. When transportation is leading us lower this is not a good sign for the economy. Other economic indicators support this thesis. For example, cardboard box demand is the lowest it's been since 2008. Showing signs of a decline in goods demand. For more insights on trading and investing check out the Equity Channel Podcast on Apple, Spotify and Amazon.
DJ:DJTShort
by D1Finance
💥 WORLD ECONOMY: ...big drop is coming? 😡Amazon rarely delays deliveries, but I ordered the crystal ball over 30 years ago and it still hasn't arrived! 😢😂 ...So, I don't know what will really happen in the coming months, but what we can do right now is try to make some considerations. The chart above represents the DJ Transportation Index , an excellent "thermometer" of US economy. If we look at a monthly time frame, we see that a deep pullback appeared after a structure with "Wave 1 Extension", so we cannot exclude that it could happen again. At the same time however, we see that the Price Action has reached an important static support around 14,000, and only its failure could confirm a bearish leg with a first target around 11,000, obviously we are talking about a monthly chart, so to confirm this hypothesis, we have to wait until the end of the month. In this historical context, many things could change in global economy, and the geopolitical situation is one of the main actors of this period. Inflation, the war in Ukraine, wide social gap, the dollar crisis, are all key factors that could still lead to uncertainty in the medium term. INFLATION and THE PRICE WAR We are well aware that a large part of the developed economy is struggling with rising prices, and even if inflation in the U.S. and in Europe it is driven by different reasons, Central Banks are using the same tools (are they wrong??) of monetary policy, , but something could change in the coming months. The most important Central Bank (Federal Reserve) could face a diabolical "pincer", because the danger of hyperinflation is the same as a potential stagflation. Thanks for your attention. A.B. ❤
DJ:DJT
by TheAnonymousBanker