Dow Jones Transports forged an “outside week” last week, making a new high on the week then closing below the lows of the week. The Transports are an indicator that confirms or overall economic conditions and the Dow Industrial’s price movement.
The circled bar represents just Friday’s price action. Two bars to the left (Wednesday) shows the new highs. In addition, the volumes are now surging on down days, not what should be happening in a secular (longer term) bull market.
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