DJ Transports Average for 7/20/2016 (d-w-m)

 

  In every “Who Dun it?” the detectives gather up and carefully examine the evidence.
  Lately, there have been multiple “DOW Theory” articles appearing, comparing highs and lows of the Dow Jones Industrial Average (DJIA, .DJI)  to the highs and lows of the DJ Transports Average (DJTA, .DJT)  warning of doom and gloom as compared to 2007.   These articles FAIL to mention any of the multiple differences in the USA and global economies affecting the DJIA and DJT Indices stocks  between 2007 and 2016 … nor how those differences, contribute to, or detract from, their analyses.  While there is nothing wrong with comparing indices that haven’t been fiddled with in a while … IMHO, doing one’s own homework means we do not assume, or take for granted, that changes in the global economies, or changes in the stocks comprising the Indices,  had/have no affect/effect.   Do the HOMEWORK and PROVE it! 

 PROs and CONs

 In 2007, crude was above $100/barrel heading to $149 per barrel, forcing price increases in refined petroleum products, like gasoline.  Rising gasoline prices were too severe a tax upon the consumer that had to drive to and fro to work.  Besides the banking risky debt and derivatives, that “crude tax” contributed to the global markets meltdown.    In 2016, West Texas Intermediate (WTI) crude is struggling to get back to $50 per barrel.
On 7/20/2007 the CBOE 10 Year Interest Rate (TNX) closed at a 10 year interest rate of 4.956%.  On 7/19/2016 the CBOE Interest Rate 10 Year T Note closed down at 15.58  -0.29 (-1.83%) a 10 year interest rate of 1.558%.
 Since 2007, the DJIA itself has changed, Alcoa (AA) is gone from the DJIA.  Hewlett Packard (HPQ) and HPQ spinoff HP Enterprises (HPE) is gone from the DJIA.  American Telephone and Telegraph (AT&T, T) bought out by SBC, is gone from the DJIA.  Does the shuffling of stocks in and out of the Indices … make a difference?  Clearly homework NEEDS to be done …
   So, there is clearly more that can be added to the above list; but, many of those items  will be covered in Parts 2 and 3.  Let’s look at the daily, weekly, and monthly (d-w-m) charts for the DJ Transports Average (DJTA, .DJT)  below:
                       ————————————–

III.  DJ Transports Average (DJTA, .DJT) Charts, Pivot Points,  Support and Resistance, etc.  for Tuesday 7/19/2016  thru Friday 7/29/2016

Below you will find the 52 week performance, and the Year-to-Date (YTD) performance to DJ Transports Average (DJTA, .DJT).   See  52week High,  52week Low, (Close 12/31/2015) to track changes in this info.   For tracking the day’s action, here are the Pivot Points (PP), Support points (s1, s2), Resistance points (r1, r2),  the 50 day-week-month simple moving averages (sma50), and the 200 day-week-month simple moving averages (sma200)..
::  If the related index, or stock, is above the pivot point, the pivot point is both support, and an indication that Mr. & Ms. Fickle Markets are Bullish.
::  If the related Index, or stock, is below the pivot point, then the pivot point represents resistance, as well as an indication that Mr. & Ms. Fickle Markets are Bearish.
::   Please NoteALL projections are for reference only as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets.

 

—————————

 

djt 20160719d
Chart #1 (above, EOD, daily)  The DJ Transports Average (INDEX DJTA: .DJT) O-H-L-C Pivot Point-SupportResistance DAILY chart
  • Overall, the bias in DAILY Points/Prices is: Upwards.
  • Short term: Points/Prices are moving.
  • Intermediate term: Points/Prices are ranging.
  • Note: this chart shows extraordinary Points/price action to the upside.
  • The upper projected target is: 8,252.40.
  • The lower projected target is: 7,679.44.
  • The projected closing points are: 7,965.92.
Note: these Points/price projections are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
( 1.d) For the DJ Transports Average (INDEX DJ: .DJT) (ETF: )
Closed 7/19 down  @  7961.47
:: Closed   (below 7/19 PP)  (above 7/20 PP)
  •   :: Pivot point (PP)   7951.92
  •   Support (s1)  7924.12       Support (s2)   7886.77
  •   Resistance (r1)   7989.27   Resistance (r2)   8017.07
  •   Simple Moving Average (Close 50):    7669.19       (uptrend)
  •   Simple Moving Average (Close 200):    7677.93       (uptrend)
  •   52 week performance  -4.344%  YTD performance  +6.030%
djt 20160719w
Chart #2 (above, EOD, weekly)  The DJ Transports Average (INDEX DJTA: .DJT) O-H-L-C Pivot Point-Support-Resistance WEEKLY chart   Note “the Claw”  when Resistances (r2, r1) and Supports (s2, s1) converge to the Pivot Point … this informs me more work needs to be done and that a big move Up, or down, could be coming ….  
  • Overall, the bias in Points/Prices is:  Sideways.
  • Short term: Points/Prices are stalling.
  • Intermediate term: Points/Prices are ranging.
  • The upper projected target is: 8,602.61.
  • The lower projected target is: 7,308.75.
  • The projected closing points are: 7,955.68.
Note: these Points/price projections are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
( 1.w) For the DJ Transports Average (INDEX DJ: .DJT) (ETF: )
Closed 7/19 up  @  7961.47  -23.6997
:: Closed   (above 7/15 PP)  (above 7/22 PP)
  •   :: Pivot point (PP)   7957.49
  •   Support (s1)  7918.55       Support (s2)   7875.62
  •   Resistance (r1)   8000.42   Resistance (r2)   8039.36
  •   Simple Moving Average (Close 50):    7727.94       (uptrend)
djt 20160719m
Chart #3 (above, EOD, monthly)  The DJ Transports Average (INDEX DJTA: .DJT) O-H-L-C Pivot Point-Support-Resistance MONTHLY chart
  • Overall, the bias in Points/Prices is: Upwards.
  • Short term: Points/Prices are stalling.
( 1.m) For the DJ Transports Average (INDEX DJ: .DJT) (ETF: )
Closed 7/19 up  @  7961.47  +476.34
:: Closed   (above 6/30 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)   7779.47
  •   Support (s1)  7510.86       Support (s2)   7060.24
  •   Resistance (r1)   8230.09   Resistance (r2)   8498.70

—–  Monday, 7/18/2016   thru    Friday 7/29/2016  ——-

 

( x)   All Links can be opened in a new tab or new window …

  •  ( xi )  I will be returning and adding more related chart info including links to charts with  daily, weekly, and monthly chart analysis

 

Please read:

 (1)  Research and Investing Disclaimer

 (2)  Investing and Trading

    It’s Black Friday for OPEC

 

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Hope the above  DJ Transports Average (DJTA, .DJT)  calculations for tomorrow thru Friday, 7/29/2016  help your investing and trading planning today …

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