DJ Transports Average for 7/25/2016 (d-w-m)

 

  “Dow Theory”

  In examining the “Dow Theory”, we learn Mr. Charles Dow developed two broad US market averages in 1897.  The first Dow Jones Industrial Average only contained 12 “industrial” stocks. The second, the Dow Jones Transportation Average contained 20 “transportation” stocks.  Based on articles written by Mr. Dow and published by the Wall Street Journal in 1902-1905, Mr. Dow thought of using the US markets’ trend as a way to monitor the US economy for general business conditions.  That is, and will always be, part one of my analysis.  Current analysts, ignore “Dow Theory” part one, in favor of analyzing market trends, my part 2, to predict, or project, stock prices.  In my humble opinion, every “Dow Theory” analyst that ignores Part 1, probably isn’t going to get Part 2 right. 

  DJ Transports Avg (DJTA, .DJT)

  Analysis of Daily, Weekly, and Monthly (d-w-m) Charts activity through Friday’s (7/22/2016) close at  7,965.98.  (See charts below.)  The current trend is up and all orders on the long side may be considered.   If already holding long positions, look to take partial profits on any retracement to 7,738.84.   Investors and traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 7,458.39.   Be prepared for a potential short term price pull back to the 7,858.47 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at …  7,328.86
If Short, exit all contracts at …  8,048.09
Below you will find the DJ Transportation Average Index Support and Resistance for Monday, 7/25/2016, as well as the rest of July, as calculated from the changes in Index points through Friday, 7/22/2016’s close.
  Related for Monday:
————————
djt 20160722d
  ————————
  Chart #1 (above, EOD, daily)  The DJ Transports Average (INDEX DJTA: .DJT) O-H-L-C Pivot PointSupportResistance DAILY chart
  •   For 7/22/2016 the closing price was 7,965.98.
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • The upper projected target is: 8,257.09.
  • The lower projected target is: 7,685.09.
  • The projected closing price is: 7,971.09. 
  :: Please Note  ALL projections are for reference only as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets   (d-w-m) = Daily, Weekly, and Monthly.  O-H-L-C = Open-High-Low-Close.
           ——————————
( 1.d) For the DJ Transports Average (INDEX DJ: .DJT) (ETF: )
Closed 7/22 up  @  7,965.98  +107.39
:: Closed   (above 7/22 PP)  (above 7/25 PP)
  •   :: Pivot point (PP)   7933.29
  •   Support (s1)  7894.05       Support (s2)   7822.12
  •   Resistance (r1)   8005.22   Resistance (r2)   8044.46
  •   Simple Moving Average (Close 50):    7679.31       (uptrend)
  •   Simple Moving Average (Close 200):    7677.36       (uptrend)
  •   52 week performance  -4.344%  YTD performance  +6.030%
djt 20160722w
  ————————
Chart #2 (above, EOD, weekly)  The DJ Transports Average (INDEX DJTA: .DJT) O-H-L-C Pivot Point-SupportResistance WEEKLY chart
  •   For 7/22/2016 the closing price was 7,965.98.
  • Overall, the bias in prices is:  Sideways.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are ranging.
  • The upper projected target is: 8,607.19.
  • The lower projected target is: 7,313.37.
  • The projected closing price is: 7,960.28. 
  :: Please Note  ALL projections are for reference only as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets
       ——————————————-
( 1.w) For the DJ Transports Average (INDEX DJ: .DJT) (ETF: )
Closed week 7/22 down  @  7,965.98  -19.19
:: Closed   (above 7/22 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)   7943.32
  •   Support (s1)  7864.68       Support (s2)   7763.38
  •   Resistance (r1)   8044.62   Resistance (r2)   8123.26
  •   Simple Moving Average (Close 50):    7728.03       (uptrend)
djt 20160722m
  ————————
Chart #3 (above, EOD, monthly)  The DJ Transports Average (INDEX DJTA: .DJT) O-H-L-C Pivot Point-Support-Resistance MONTHLY chart
  • For 7/22/2016 the closing price was 7,965.98.
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are stalling.
( 1.m) For the DJ Transports Average (INDEX DJ: .DJT) (ETF: )
Closed month 7/22 up  @  7,965.98  +480.85
:: Closed   (above 6/30 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)   7780.98
  •   Support (s1)  7513.86       Support (s2)   7061.75
  •   Resistance (r1)   8233.09   Resistance (r2)   8500.21

-–  Monday, 7/25/2016   thru    Friday 7/29/2016  ——

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