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Market Call, Upper Channel Correction Imminent

Horns

This chart shows a 100% success rate as to a market reaction to the upper channel.

The Dow Jones Transport chart below is a very long term chart 1898 to 2014, so 'imminent' time frame is not hours or days it is weeks. It is safe to say that within the next 12 weeks a 10% price adjustment is very very likely. And with valuations screaming massive P/Es on the Russel 2000 and Nasdaq, a 10% correction may be on the light side.

The Dow Jones Transport is only 20 stocks, therefore it is not hard for the composite man to get this index higher while others are shaking sideways or lower, but traders are the same in 2014 or 1900, they have GREEN on the screen and soon they will turn this GREEN into CASH. Profit taking on huge winners is an easy market call.

Dow Transports 1898-2014
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Investing Quote...

"Stocks create their own field of action and power; power to attract and repel,which principle explains why certain stocks at times lead the market and 'turn dead' at other times"

~ William D Gann

"Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't under-estimate the value of that, but they're not designed to take care of social needs"

~ George Soros

 


NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

 

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