The analysis of all the major indexes makes for much more clear assessment of the overall market trend. Yesterday, the Dow, the NASDAQ, and the S&P 500 were forming mildly bearish candlestick formations but the transportation index was demonstrating a strong bullish move. This implied the overall market trend was just consolidating. However, the transportation index showing a strong sell indicator, almost a bearish kicker signal, is coinciding with the selling that is occurring in the other indexes.
July 17th Daily Market Comments
The analysis of all the major indexes makes for much more clear assessment of the overall market trend. Yesterday, the Dow, the NASDAQ, and the S&P 500 were forming mildly bearish candlestick formations but the transportation index was demonstrating a strong bullish move. This implied the overall market trend was just consolidating. However, the transportation index showing a strong sell indicator, almost a bearish kicker signal, is coinciding with the selling that is occurring in the other indexes.