Transports Continue Weak: Trending Now - Jet Blue - Lower
I was looking at the transports and I observed mostly non-trending stocks that won't make you money.
Lot's of zig-zags and short moves up and down.
Jet -Blue-is trending. The trend is DOWN.
There are many sell signals.
1. Sell Fractals in effect (rectangle on chart).
2. Alligator jaws opened in tandem with sell Fractal. Now feeding in down-trend.
3. Chop indicator (under chart) (indicates a trend or choppy action) is below the 38.2 shaded area, indicating a trending stock , which is trending DOWN.
4. Phase energy (lower top indicator) is heading lower (two consecutive red bars and the action is BELOW the zero line).
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading sideways to DOWN.
6. Prices are trading BELOW the Ichimoku Cloud .
7. Prices are trading below the thick red Ichimoku Cloud conversion line.
8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud and this rolling over to the down-side.
9. The trend-line that is heading down (thick golden line just above the sinking Ichimoku Cloud) has been going lower for two years.
I would not own these shares for a long position. I wouldn't buy the-IYT either.
According to the DOW-Theory, the transports have to confirm the-Industrials. I don't think this will happen any time soon.
Good luck to you in all your trades. Don.
Lot's of zig-zags and short moves up and down.
Jet -Blue-is trending. The trend is DOWN.
There are many sell signals.
1. Sell Fractals in effect (rectangle on chart).
2. Alligator jaws opened in tandem with sell Fractal. Now feeding in down-trend.
3. Chop indicator (under chart) (indicates a trend or choppy action) is below the 38.2 shaded area, indicating a trending stock , which is trending DOWN.
4. Phase energy (lower top indicator) is heading lower (two consecutive red bars and the action is BELOW the zero line).
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading sideways to DOWN.
6. Prices are trading BELOW the Ichimoku Cloud .
7. Prices are trading below the thick red Ichimoku Cloud conversion line.
8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud and this rolling over to the down-side.
9. The trend-line that is heading down (thick golden line just above the sinking Ichimoku Cloud) has been going lower for two years.
I would not own these shares for a long position. I wouldn't buy the-IYT either.
According to the DOW-Theory, the transports have to confirm the-Industrials. I don't think this will happen any time soon.
Good luck to you in all your trades. Don.
