The Transports are leading the way down.
Below are the comments from the 20th of April 2015.
The DOW transports are now in a full bear market correction, “where the Transports go so go’s the DOW ” is the saying.
The current daily chart of the Transports show a new low being made last night to 8000 points down from highs around 9200 points.
Comments from the 20th April
You have heard the saying “where the Transports go”,, “so goes the DOW.”
The Transports Index has a small inverse head and shoulder pattern at the support level of 8600.
This support level has been in place for 6 months and looks to be strong as evidenced by the long shadows
in DEC-14 , JAN-15 and FEB-15.
So the picture is very clear, a breakdown below this level would set up a new Bear market.
This Inverse head and shoulder pattern is setting up a retest of the Resistance at 9220 points.