• 636 days Will The ECB Continue To Hike Rates?
  • 637 days Forbes: Aramco Remains Largest Company In The Middle East
  • 638 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,038 days Could Crypto Overtake Traditional Investment?
  • 1,043 days Americans Still Quitting Jobs At Record Pace
  • 1,045 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,048 days Is The Dollar Too Strong?
  • 1,048 days Big Tech Disappoints Investors on Earnings Calls
  • 1,049 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,051 days China Is Quietly Trying To Distance Itself From Russia
  • 1,051 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,055 days Crypto Investors Won Big In 2021
  • 1,055 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,056 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,058 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,059 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,062 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,063 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,063 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,065 days Are NFTs About To Take Over Gaming?
Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

Trouble on the Transportation Index?

In the past few days, I have done something I don't normally do. I have reported on the same thing for two days in a row, and will report on it again this morning ... about what is happening on the Transportation Index.

After reporting on it since Friday, most investors can appreciate the significance of the the Transportation Index hitting its October/April resistance on Friday, and pulling back yesterday. After all, the previous 3 touch points on this resistance all had pullbacks. That was a 1 day pullback yesterday, now we have to see if the Transports will retest the resistance or continue to fall.

In the past, each prior hit on the resistance line resulted in a pull back with a lower/low being made.The majority of analysts think that the economy has stopped falling ... a stop in falling could be that a bottom has been found, or only a pause in the falling.

The Transportation index will help give clarity as to which it is in the coming weeks. It if continues to fall over time, and makes a higher/low, then that would be a supportive case that the falling has stopped and that we are in a bottoming process. On the contrary, if it makes a lower/low, that would point to a situation where the economy has not hit a bottom. (The Transportation Index condition will be monitored and updated on our paid website updates.)

 

Back to homepage

Leave a comment

Leave a comment