Charts ,in real time and EOD, using Elliot waves and Fibonacci.
Wednesday, May 2, 2012
$INDU: Again, Dow theory. New high not confirmed by $TRAN.
Yesterday, the Dow industrial ($INDU) put in place a new, multiyear high but the Dow transport ($TRAN) don't follow,so, based on the Dow theory we can say that there was a big divergence, again, and prices can fall hard.