In an article I wrote here on Steemit just yesterday, I spoke about how the Dow transports have been selling off hard and fast since the middle of July however, I also stated that if we saw a rebound with regard to the transports this could push stocks higher.
Today in early trade, it appears that the Dow transports are indeed rebounding and this may signal yet another leg higher for the stock market.
If the Dow Jones industrial average closes higher today, that would be nine consecutive records, but if the transports continue to rebound this record run may continue.
As traders, we always have to be ready for this market to turn on a dime, and despite the fact that this market is again by every technical measure you want to look at way over-owned, a leg higher is still possible.
*If you are using my new "Rip System" for trading, put in ticker IYT (which is the iShares transportation average ETF), and tell me what you see... (Please post a comment).
If you want to download my new Rip System, click here: http://www.lulu.com/shop/gregory-mannarino/the-rip-the-markets-face-off-system-for-technical-trading/ebook/product-23285099.html
Gregory Mannarino @marketreport
The Dow Transports have indeed moved higher, up 9.71 as of right now. Great call again. Silver got smacked earlier but has rebounded.
Thank you for sharing this outstanding information!
Haven't seen the metals go down yet hopefully they won't gold up 0.17% and silver up 0.23% as it stands, cheers mike
Why doesn't the PPT do for the DJTA what it does for the DJIA?
Thank You, Gregory. I am into the Silver, that you've been talking about. Looking forward to today's video.
Hi Greg, and it looks like "YOU ARE RIGHT AGAIN"......who would've known.....Well anyone with the SMARTS to follow you!! GREAT job brother,and keep on STEEMIN!! Upvoted. :C)
Thank you
Thx greg
Please keep follow & upvote me.
Thanks...This is my https://steemit.com/@ripon
good work greg sir and also thanx for this to describes about DOW which confuse me some times
Absolutely right greg awesome analysis.
its explatnation is may increase my knoledge about it sir
everything looks hunky dory again I guess lol :)
It seems like it was a good idea to keep an eye on DOW and its activities.
Thanks @marketreport
You're best . Thanks For Share. love it.
Thanks for the info. I have not yet got to the RIP system but look to do it this week.
Thanks for the update greg. Great info as always
Thanks Greg I'll be looking for your new rip system thank you
Thank you for the update. This market is just to high, S&P might go to 2500, but then it is time for correction.
and its shoking and amaizing today if they closes they consecutive nine records but i think before it the 8 records greg
You may be right.
nice post greg we just have to keep an eye on DOW movements.
Well, I really need to download your Rip System and digest it before opening my mouth about it, but when I look at IYT I do see it turning on a dime in the daily chart, but not breaking any trend line yet. We are still squarely in the middle of a consolidation range and I would normally not trade on this kind of move, but I can see how you would. I will be interested to see how this turns out, but I think I would not make a move on this.
I wouldn't buy calls on IYT here however, a rebound in the transports may push the major indices higher.
Ah, yes, that is the point you were making. True.
Good article I would not be surprised to see the Dow Jones Barnum Show to reach 25,000 in the next year before falling hard. Could be wrong though. Thanks Greg - Troy
Higher stocks and more records........ doesn't surprise me as I think it's just gonna go higher and higher! Doesn't mean you'll be buying as much with your dollar though. Good stuff Mr. M Thank you!
Hallo dear Mr. Iam From Aceh, Indonesia my villege. votes & Follow me. thaks.
Mr. Iam. Um.
would it be wise to go long on the VIX every time it hits 9 dollars? it seems like it never goes lower
Is it true that the fed has been buying equites en masse and could this be an explanation as to why stocks are behaving as they are?
yes, swiss national bank
Greg which system do you believe offers best results, evolution or Rip? thanks
I think it's subjective.
Thanx for keeping us informed and updated.... :-)
Thanks for information!
Thanks for the update. I am excited about this market. It is going to get really exciting and interesting here soon.
Upvoted and Resteemed.
Glad to see that you are once again on top of things.
I am ready for whatever happens next.
Thanks
I am waiting to see your video for the day. As always, you usually are right and you inform us of what we need to pay attention to.
Thanks for the post.
Great Article, do post like this and spread knowledge among all.
It is really positive info.^^
thank you for sharing
upvote
upvote
Nice post sharing thanks
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You're right Greg. Thanks.
Upvoted and resteemed sir very nice suggestions.