Weekend Market Soapbox
I have previously warned that the retailers must be watched, as they will always fall first, followed by the transports, then the industrials. That is the order of things in the business world.
Friday, the RTH Retail Holders dropped 1.7% and has dropped 9% since its last peak on March 4th, and since its 11/15/04 peak the RTH has given up 12%.
Also on Friday, the DJTA Transports dropped 3.29%, it slashed through the 50 and 100DMA on high volume, coming to rest on top of its 150DMA. If the transports break the 150DMA on high volume, get ready for the industrials and everything else to follow. Just click on the chart link below to see the carnage.
Retail Dominoes
DJTA & RTH 6 Month Chart
Friday, the RTH Retail Holders dropped 1.7% and has dropped 9% since its last peak on March 4th, and since its 11/15/04 peak the RTH has given up 12%.
Also on Friday, the DJTA Transports dropped 3.29%, it slashed through the 50 and 100DMA on high volume, coming to rest on top of its 150DMA. If the transports break the 150DMA on high volume, get ready for the industrials and everything else to follow. Just click on the chart link below to see the carnage.
Retail Dominoes
DJTA & RTH 6 Month Chart
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