STill 1430 Support 1500 R 10-22Low

Last week I said 1430 support and we stopped at 1430.53 . The week 1430 should break and take us to 1400 real quick.I look for a low 10-22 at 1390.xx cash.
The above charts just shows the weakness we all know about, but a chart is worth 1000 words.
Jerry

Trans vs Dow update

This chart above is how Stockcharts explains the Dow Theory.  The chart below is several charts  of Tran/Indu and several bare charts to help get a view. If you wait for the Dow Theory you will leave a lot on the table.

The common wisdom is if the transports go down the market will follow. Going back to 1999 I find that a little hard to prove. I'm open to suggestion because I maybe looking at this chart wrong but there are times the trans seem to have no effect on Spx. I draw a few lines to help line up the Trans with the Spx on the bottom.


Jerry

1500 Resistance 1430 Support Spx

1500 Resistance 1430 Support Spx. Till some thing happens I guess these are the cards.

My 40 TDH hopefully came last week and we can correct. First down Friday in 8 weeks.

I'm still overbought. Can the Transports lead us down yet again, or will energy tumble.

Click chart to enlarge.