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Tuesday, February 28, 2012

$INDU - $TRAN: Dow theory updated.

As you can see in both charts ( above & below), DOW theory is not confirmed, because $TRAN has not placed a new high as $INDU. Up to here is reading the text book. What we find interesting is that each chart has its own HS development (the $TRAN is not so clear,because the head,should be? higher than second shoulder) and we can, clearly, watch that $TRAN has complete its pullback, but $INDU is in process of completing? its pullback,so, maybe the possibility of a new high for $TRAN is negated?

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